Answer:
$5 million
Explanation:
Calculation for the post-money valuation of your shares
First step is to calculate the total shares outstanding after the venture capitalist's investment:
Total shares = 2 million shares + 1 million shares + 4 million shares
Total shares = 7 million shares
Second step is to calculate the Amount paid by venture capitalist
Using this formula
Amount paid by venture capitalist = Total value / Number of shares purchased
Let plug in the formula
Amount paid by venture capitalist = $5 million / 4 million shares
Amount paid by venture capitalist = $1.25 per share
Last step is to calculate the post-money valuation
Using this formula
Post-money valuation = Amount paid by venture capitalist * Shares subscribed
Let plug in the formula
Post-money valuation = $1.25 * 4 million shares
Post-money valuation = $5 million
Therefore After the venture capitalist's investment, the post-money valuation of your shares is closest to$5 million
Straight Industries purchased a large piece of equipment from Curvy Company on January 1, 2019. Straight Industries signed a note, agreeing to pay Curvy Company $480,000 for the equipment on December 31, 2021. The market rate of interest for similar notes was 9%. The present value of $480,000 discounted at 9% for five years was $311,967. On January 1, 2019, Straight Industries recorded the purchase with a debit to equipment for $311,967 and a credit to notes payable for $311,967. How much is the 2020 interest expense, assuming that the December 31, 2019 adjusting entry was made
Answer:
$30,604
Explanation:
The computation of the interest expense for the year 2020 is as follows:
2019 interest expense is
= Equipment amount × rate of interest
= $311,967 × 9%
= $28,077
The Dec 31 2019 liability of book value is
= $311,967 + $28,077
= $340,044
Now the interest expense for the year 2020 is
= $340,044 × 0.09
= $30,604
FLASH Delivery has EPS of $6.00 per share and has a payout ratio of 40%. Its dividend is expected to grow at a rate of 5.25%. If FLASH stock is trading at $22.86, then the shareholder's required return is closest to:_______
a. 14.2%
b. 15.7%
c. 16.3%
d. 16.9%
Answer:
The answer is "Option c"
Explanation:
The Dividend payout ratio is 40% so that EPS* is the dividend payout ratio of the company:
[tex]= 6 \times 40 \% \\\\= \$ \ 2.40[/tex]
Inventory market value:
[tex]= Dividend \times \frac{(1+g)}{(r-g)}[/tex]
Where r = return rate is needed
g= growth [tex]= 5.25\% = \frac{5.25}{100} = 0.0525[/tex]
[tex]\to 22.86 = \frac{(2.4 \times (1+g))}{ r-0.0525}\\\\\to 22.86 = \frac{(2.4 \times (1+0.0525))}{r-0.0525}\\\\\to (22.86 \times r)-(22.86 \times 0.0525)=2.526\\\\\to (22.86 \times r)-1.20015=2.526\\\\\to 22.86r=3.72615\\\\\to r=0.1630\\\\\to r=16.30 \%[/tex]
in constructing the official unemployment rate (U-3), which of the following does the bureau of labor statistics take into account? choose as many as are correct.
a)survey of firms reporting how many workers they laid off or fired
b)initial unemployment claimed field
c)the average unemployment rate over the last 12 months
d)The change in job posting from one year ago
e) survey of individuals reporting wheater they have job or active looked for work in the last 4 week
Answer:
e) survey of individuals reporting whether they have job or active looked for work in the last 4 week
Explanation:
The unemployment rate (U-3) reports on the number of jobless people that are actively seeking employment. The bureau of labor statistics considers individuals who have sought employment in the past four weeks. The bureau defines an unemployed person as one that is jobless but has actively sought work in the last four weeks.
This unemployment rate (U3) is the most reported and followed. The report is released monthly. The U3 unemployment rate is criticized for not being inclusive of all jobless people. For instance, it does not include discouraged job seekers or those not looking for work due to other factors such as caring for the sick and elderly at home.
On January 1, Year 1, Missouri Co. purchased a truck that cost $32,000. The truck had an expected useful life of 10 years and a $3,000 salvage value. Missouri uses the double declining-balance method. What is the amount of depreciation expense recognized in Year 2?
Answer:
Annual depreciation= $4,640
Explanation:
Giving the following information:
Purchase price= $32,000
Useful life= 10 years
Salvage value= $3,000
To calculate the depreciation expense, we need to use the following formula each year:
Annual depreciation= 2*[(book value)/estimated life (years)]
Year 1:
Annual depreciation= 2*[(32,000 - 3,000) / 10]
Annual depreciation= $5,800
Year 2:
Annual depreciation= 2*[(29,000 - 5,800)/10]
Annual depreciation= $4,640
Steve has converted his garage into a separate living space and listed the property for short-term rental on an online platform. Steve spends an average of 15 hours each week performing activities related to the rental property. Which activity is considered a substantial service.
Answer:
B). Changing sheets and towels between rentals.
Multiple-choice
A). Administrative activities, including paying bills and advertising the rental.
B). Changing sheets and towels between rentals.
C). Re paring carpet damaged by quests
D). Transporting quests to and from the airport and sightseeing trips.
Explanation:
According to IRS regulations, a person is said to have performed substantial services if they dedicate at least 45 hours per month to the business. Steve works an average of 15 hours of performing activities. In a month, he works for an average of 60 hours in the rental property.
The IRS defines substantial services to be activities like regular cleaning, maid services, and changing linens. For Steve, substantial service will be option B: Changing sheets and towels between rentals.
Find an example of a large project that took more than a year to complete, preferably one near where you live. Describe some of the planning work completed for the project as part of project time and cost management. Summarize your findings
The executor of Danny Mack's estate has listed the following properties at fair value: Cash $200,000, Life Insurance Receivable $500,000, Investment in Stocks and Bonds $50,000, Rental Property $100,000, and Personal Property $80,000. Additionally, the executor found $100,000 of various debts incurred before the decedent's death. The cost of Danny Mack's funeral was $20,000.Prepare a Charge and Discharge Statement for the estate.
Answer:
Charge & Discharge statement
Particulars Amount
Cash $200,000
Life insurance receivable $500,000
Investment in stock & bonds $50,000
Rental property $100,000
Personal property $80,000
Balance before discharge $930,000
Less: Discharge
Debts $100,000
cost of funeral $20,000 $120,000
Leaving a principal balance $810,000
Your portfolio is 310 shares of Callahan, Inc. The stock currently sells for $101 per share. The company has announced a dividend of $3.20 per share with an ex-dividend date of April 19. Assuming no taxes, what is your portfolio value as of April 19?
Answer: $30,318
Explanation:
On the day the dividend is announced, the price of the stock usually goes down by the amount of dividend announced.
Price on April 19 = 101 - 3.20 = $97.80
Portfolio value = 97.80 * 310 shares
= $30,318
Household purchases of durable goods $1,293 Household purchases of nondurable goods $1,717 Household purchases of services $301 Household purchases of new housing $704 Purchases of capital equipment $192 Inventory changes $374 Purchases of new structures $611 Depreciation $117 Salaries of government workers $1,422 Government expenditures on public works $553 Transfer payments $777 Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods $120 Note that depreciation is the value loss of the durable goods purchased before this year. What was country A's GDP in 2019
Answer:
The correct answer is $7,253
Explanation:
According to the given scenario, the calculation of the country A GDP in the year 2019 is as follows:
The Country's GDP is
= Net Consumption + Net investment + government purchase + net export (export-import)
= ($1,293 + $1,717 + $301) + ($704 + $310 + $374 + $611) + ($1,422 + $553) +($88 - $120)
= $3,311 + $1,999 + $1,975 - 32
= $7,253
Therefore , Country A's GDP is $7,253
List at least Two functional digital wallet
Luker Corporation uses a process costing system. The company had $162,500 of beginning Finished Goods Inventory on October 1. It transferred in $839,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $160,200. The entry to account for the cost of goods sold in October is:
Answer and Explanation:
The journal entry for cost of goods sold is as follows:
Cost of goods sold Dr $841,300
To Finished goods inventory $841,300
(Being the cost of goods sold is recorded)
The value of cost of goods sold is
= $162,500 + $839,000 - $160,200
= $841,300
Here the cost of goods sold is debited as it increased the expense while the finished goods inventory is credited as it decreased the assets
You have received a job offer upon graduation from a prestigious consulting firm. Before you receive your first paycheck, you have decided to purchase a $100,000 Porsche. The Eighth National Bank of Okemos is willing to give you a 5-year loan, but they require a 10% down payment, and the interest rate will be 10% annually. How much will your monthly payments be
Answer:
The monthly payments will be $1,912.23.
Explanation:
This can be calculated using the formula for calculating the present value of an ordinary annuity as follows:
PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)
Where;
PV at 65 = Present value of the balance of the Porsche = $100,000 * (100% - Percentage of down payment) = $100,000 * (100% - 10%) = $90,000
P = monthly payments = ?
r = Monthly interest rate = Annual interest rate / 12 = 10% / 12 = 0.10 / 12 = 0.00833333333333333
n = number of months = 5 years * 12 months = 60
Substitute the values into equation (1) and solve for P, we have:
$90,000 = P * ((1 - (1 / (1 + 0.00833333333333333))^60) / 0.00833333333333333)
$90,000 = P * 47.0653690237519
P = $90,000 / 47.0653690237519
P = $1,912.23
Therefore, the monthly payments will be $1,912.23.
On January 1, 2012, Vaughn Manufacturing purchased for $768000, equipment having a useful life of ten years and an estimated salvage value of $42600. Vaughn has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2020, the equipment was sold for $125000. As a result of this sale, Vaughn should recognize a gain of
Answer:
Gain= $9,860
Explanation:
Giving the following information:
Purchase price= $768,000
Salvage value= $42,600
Useful life= 10 years
First, we need to determine the annual depreciation and the accumulated depreciation at the moment of the sale:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (768,000 - 42,600) / 10
Annual depreciation= $72,540
Accumulated depreciation= 72,540*9= $652,860
If the selling price is higher than the book value, the company made a gain from the sale:
Book value= 768,000 - 652,860= $115,140
Gain/loss= 125,000 - 115,140
Gain= $9,860
At the beginning of the current year, Trenton Company's total assets were $274,000 and its total liabilities were $188,000. During the year, the company reported total revenues of $119,000, total expenses of $89,000 and owner withdrawals of $18,000. There were no other changes in owner's capital during the year and total assets at the end of the year were $286,000. Trenton Company's debt ratio at the end of the current year is:
Answer:
The correct answer is 65.7%
Explanation:
According to the given scenario, the calculation of the debt ratio is as follows;
But prior to that the following calculations are needed
Ending total assets $286,000
Less: Ending stockholders equity
opening stockholders equity($274,000 - $188,000) $86,000
Add: Revenue $119,000
Less: Expenses $89,000
Less: Dividends $18,000
Ending stockholders equity $98,000
ending liabilities $188,000
Now
debt ratio = Total liabilities ÷ total assets
= $188,000 ÷ $286,000
= 65.7%
hence, the debt ratio is 65.7%
Long-term corporate bond have had a historical average return of 6.4% and a standard deviation of 8.4% over this same time period. What is the range of returns that you would expect to experience 68% of the time for long-term corporate bonds?
Answer:
The range will be "-2.0% to 14.8%". A further explanation is given below.
Explanation:
According to the question,
For 68%, the range seems to be +/- 1 standard deviation of the mean. So that the upper as well as the lower range will be:
Upper range,
= [tex]6.4 - 8.4[/tex]
= [tex]-2.0[/tex] (%)
Lower range,
= [tex]6.4 + 8.4[/tex]
= [tex]14.8[/tex] (%)
So that the range would be between "-2.0% to 14.8%".
Diamond Machine Technology has invested $250,000 in developing a sharpener. Each sharpener costs $3 to make. In addition, fixed costs for the sharpener are $10,000. The company expects to sell 100,000 sharpeners this year to local supermarkets (you should assume this sales forecast is accurate). Diamond Machine's markup on sales is 30 percent, and it wants to earn a 20% ROI. Calculate both the markup price and the target-return price for the sharpener. How much profit can Diamond Machine earn this year if they sell at the markup price
Answer:
Diamond Machine Technology
a) Markup price = $4.03
b) Target return price = $3.60
Explanation:
Investment = $250,000
Cost of each sharpener = $3
Additional fixed costs = $10,000
Quantity of sharpeners to sell for the year= 100,000
Markup on sales = 30%
Return on Investment (ROI) = 20%
Markup price = (($3 * 100,000) + $10,000))* 1.3
= $403,000 /100,000 = $4.03
Return on Investment:
Profit for the year = 100,000($4.03 - $3) - $10,000 = $93,000
ROI = $93,000/$250,000 * 100 = 37.2%
Target revenue = (20% of $250,000) + $310,000 = $360,000
Target return price = $360,000/100,000 = $3.60
Emily Smith files her tax return on the basis of a fiscal year. Her records show that she received income in November 2018 and February 2019 from which there was backup withholding ($100 and $50, respectively). Emily takes credit for what amount of backup withholding on her tax return for the fiscal year ending September 30, 2019
Answer:
$150
Explanation:
Calculation for what amount of backup withholding on her tax return for the fiscal year ending September 30, 2019 will Emily takes credit for
Using this formula
Credit amount of backup withholding on her tax return for the fiscal year ending September 30, 2019= November 2018 backup withholding+February 2019 backup withholding
Let plug in the formula
Credit amount of backup withholding on her tax return for the fiscal year ending September 30, 2019=$100 + $50
Credit amount of backup withholding on her tax return for the fiscal year ending September 30, 2019 = $150
Therefore the amount of backup withholding on her tax return for the fiscal year ending September 30, 2019 will Emily takes credit for will be $150
In the process of reconciling Marks Enterprises' bank statement for September, Mr. Marks compiles the following information: Cash balance per company books on September 30 $ 6,220 Deposits in transit at month-end $ 1,410 Outstanding checks at month-end $ 730 Bank charge for printing new checks $ 100 Note receivable and interest collected by bank on Marks' behalf $ 660 A check given to Marks during the month by a customer is returned by the bank as NSF $ 590 The adjusted cash balance per the books on September 30 is:
Answer:
$6,190
Explanation:
Particulars Amount
Cash balance per company books $6,220
Add: Note receivable and interest collected $660
Less: Bank charge for printing new checks $100
Less: NSF check $590
The adjusted cash balance $6,190
So, the adjusted cash balance per the books on September 30 is $6,190
Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio. The partners have decided to liquidate their partnership. On the day of liquidation their balance sheet appears as follows. KENDRA, COGLEY, AND MEI Balance Sheet May 31 Assets Liabilities and Equity Cash $ 99,600 Accounts payable $ 255,500 Inventory 539,400 Kendra, Capital 76,700 Cogley, Capital 172,575 Mei, Capital 134,225 Total assets $ 639,000 Total liabilities and equity $ 639,000 Required: For each of the following scenarios, complete the schedule allocating the gain or loss on the sale of inventory. Prepare journal entries to record the below transactions. (Do not round intermediate calculations. Amounts to be deducted or Losses should be entered with a minus sign. Round your final answers to the nearest whole dollar.) (1) Inventory is sold for $612,000. (2) Inventory is sold for $462,600. (3) Inventory is sold for $336,000 and any partners with capital deficits pay in the amount of their deficits. (4) Inventory is sold for $300,000 and the partners have no assets other than those invested in the partnership.
Cheyenne Company is considering two capital investment proposals. Estimates regarding each project are provided below: Project SoupProject Nuts Initial investment$400000 $600000 Annual net income46000 62000 Net annual cash inflow122000 153000 Estimated useful life5 years 6 years Salvage value0 0 The company requires a 10% rate of return on all new investments. Present Value of an Annuity of 1 Periods9% 53.890 3.791 3.696 3.605 64.486 4.355 4.231 4.111 The annual rate of return for Project Soup is
Answer:
the annual rate of return for project soup is 23%
Explanation:
The computation of the annual rate of return for project soup is shown below
Annual Rate of Return is
= Average Net Income ÷ Average Investment × 100
= $46,000 ÷ ($400,000 ÷ 2) × 100
= $46,000 ÷ $200,000 × 100
= 23%
Hence, the annual rate of return for project soup is 23%
The same is relevant and considered
Wininger Corporation has 1000 shares of 6%, $50 par value, cumulative preferred stock and 25,000 shares of $1 par value common stock outstanding on December 31, 2019 and December 31, 2020. The board of directors declared and paid a $2,000 dividend in 2019. In 2020, $15,000 of dividends are declared and paid. What are the dividends received by the common stockholders in 2020 (there were no dividends in arrears prior to 2019)
Answer:
Dividends received by the common stockholders in 2020 = $12,000
Explanation:
Cumulative preferred stock can be described as a type of preferred stock whose dividends accumulate when they are not paid in any year and their accumulated dividends has to be paid in future before common stockholders receive any dividend.
The dividends received by the common stockholders of Wininger Corporation in 2020 can therefore be calculated as follows:
Annual dividend payable to cumulative preferred stock = 1000 * 5% * $50 = $2,500
Dividend declared paid in 2019 = $2,000
Dividend declared and paid in 2020 = $15,000
Outstanding dividend payable to cumulative preferred stock in 2019 = Annual dividend payable to cumulative preferred stock - Dividend declared in 2019 = $2,500 - 2,000 = $500
Dividend paid to cumulative preferred stock in 2020 = Outstanding dividend payable to cumulative preferred stock in 2019 + Annual dividend payable to cumulative preferred stock = $500 + $2,500 = $3,000
Dividends received by the common stockholders in 2020 = Dividend declared and paid in 2020 - Dividend paid to cumulative preferred stock in 2020 = $15,000 - $3,000 = $12,000
Consider the following limit order book for a share of stock. The last trade in the stock occurred at a price of $70. Limit Buy Orders Limit Sell Orders Price Shares Price Shares $69.75 800 $69.80 120 69.70 1,100 69.85 120 69.65 800 69.90 200 69.60 200 69.95 120 68.65 900 a. If a market buy order for 120 shares comes in, at what price will it be filled
Answer:
$69.80
Explanation:
Note, a market order is an order designed to execute an order immediately by matching the best available price on the sell order list.
When we look carefully at the sell order book, we observe that the only sell order containing the specified quantity of 120 units of shares at a price close to the market price is $69.80. Even though there are other cheaper orders are available, their order quantity does not match the market buy order for the 120 shares and thus would not be filled.
Polk Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2016 are as follows. Production Data - Basketballs Units Percentage Complete Work in process units, July 1 500 60% Units started into production 1,000 Work in process units, July 31 600 40% Cost Data - Basketballs Work in process, July 1 Materials $750 Conversion Costs 600 $1,350 Direct materials 2,400 Direct labor 1,580 Manufacturing overhead 1,240 Instructions: Calculate the following The equivalent units of production for materials and conversion costs. The units costs of production for materials and conversion costs. The assignment of costs to units transferred out and in process at the end of the accounting period. Prepare a production cost report for the month of July for the basketballs
Answer and Explanation:
The computation is shown below:
a.
1. Calculation of the equivalent units
Particulars Physical units % Material % Conversion cost
Units transferred
out 900 100% 900 100% 900
Ending
work in process 600 100% 600 40% 240
Equivalent
units 1,500 1,140
2. Cost per equivalent unit is
Particulars Material Conversion cost
Beginning
inventory $750 $600
Cost during
period $2,400 $2,820
Total cost $3,150 $3,420
Divided by
Equivalent
units $1,500 $1,140
Cost per
equivalent unit $2.1 $3
3. Transferred out cost is
= (3 + 2.1) × 900
= $4,590
And, the ending work in process cost is
= (600 ×$2.1) + (240 × $3)
= $1,960
2. Now the preparation of the production report is presented below:
Beginning work in process $1,350
Cost during period $5,220
Total cost accounted for $6,570
Transferred out cost $4,590
Ending work in process $1,960
Total cost accounted as $6,570
What would happen in the market for loanable funds if the governemnt increases the tax on interest income?
Answer: c. The supply of loanable funds would shift left.
Explanation:
An increase on taxes on interest income will reduce the earnings of savers who are the suppliers of loanable income. Some of those savers will divest from savings and look for other forms of investment to make better earnings from.
This flight from savings will reduce the savings held in banks and therefore the supply of loanable funds will reduce as well which will shift the supply curve to the left.
Becoming future proof means ensuring that you _________.
a.
Dress in classic business attire, resistant to style trends
b.
Will stay employed during any chaotic changes in your industry
c.
Are proficient in at least two programming languages
d.
Wait for the newest technology trends to become popular before learning them
Answer:
b. Will stay employed during any chaotic changes in your industry
Explanation:
Becoming future proof means ensuring that you _________.
a.
Dress in classic business attire, resistant to style trends
b.
Will stay employed during any chaotic changes in your industry
c.
Are proficient in at least two programming languages
d.
Wait for the newest technology trends to become popular before learning them
Answer:
i believe the answer your looking for is
b.
Will stay employed during any chaotic changes in your industry
Explanation:
the reason i think this is the answer is becuase i took an edgucated guess on the unit test review on edge 2020 and this was the same question and i picked b and i was correct
Glover Co. returned defective goods costing $5,000 to Mal Company on April 19, for credit. Glover had purchased the goods on April 10, on credit, terms 3/10, n/30. The entry by Glover Co. on April 19, in receiving full credit is:
Answer and Explanation:
The journal entry is as follows;
Account payable Dr $5,000
To Inventory $5,000
(being the entry recorded for receiving the full credit)
Here the account payable is debited as it decreased the liabilities and credited the inventory as it also decreased the assets
Hence, the same is to be considered
Last weekend, Bob attended the university football game. At the opening kickoff, the crowd stood up. Bob therefore had to stand up as well to see the game. In this case, Bob was participating in A. a dynamic game of strategy, which is played over time. B. a cooperative game of strategy, where participants collectively choose their strategy to maximize their joint payoffs. C. a non-cooperative game of strategy, where participants independently choose their strategy to maximize their payoffs. D. an NCAA football game.
Answer:
a non-cooperative game strategy, where participants independently choose their strategy to maximize their payoffs.
Explanation:
From the question, we are informed about Bob, who attended the university football game last week . At the opening kickoff, the crowd stood up. Bob therefore had to stand up as well to see the game. In this case, Bob was participating in a non-cooperative game of strategy, where participants collectively choose their strategy to maximize their joint payoffs. Non-cooperative game strategy can be regarded as the rational ways economic agent relate with each other so that their goals can be achieved. In this game both the available strategies as well as the outcome from various choices will be listed.
For a real interest rate of 12% per year and an inflation rate of 7% per year, the market interest rate per year is closest to:______
a. 4.7%
b. 7%
c. 12%
d. 19.8%
Answer: 19.8%
Explanation:
Interest rate = 12%
Inflation rate = 7%
Market Interest rate will be:
= 12% + 7% + 12%(7%)
= 0.12 + 0.07 + 0.12(0.07)
= 0.12 + 0.07 + 0.0084
= 0.1984
= 19.84%
Therefore, the market interest rate per year is closest to 19.8%
Impairment--Natalie Lui Corp is an international Company that uses IFRS. She owns machinery with a book value of $450,000. it is estimated that the machinery will generate future non-discounted cash flows of $350,000 and discounted cash flows of $400,000. the machinery has a fair value of $300,000. Natalie should recognize a loss on impairment a of assuming she is using IFRS. A. $150,000 B. $100.000 C. $50,000 D. 0
Answer:
C. $50,000
Explanation:
Under IFRS section IAS 36, an impairment loss results from an asset's carrying value being lower than its fair market value or value in use. In this case, the fair market value of the asset (the price at which it could be sold) is $300,000, while its value in use is $400,000 (discounted to present value). In order to calculate the impairment loss, we must use the highest, in this case the value in use.
Impairment loss = $450,000 (carrying value) - $400,000 (value in use) = $50,000
Mass customization of products has become a common approach in manufacturing organizations. Explain the ways in which mass customization can be applied to service firms as well.
Explanation:
Mass customization is a strategic approach used in manufacturing organizations to offer the customer a more personalized product that adds greater value to the customer, but with mass production characteristics, which allows lower value in the cost of manufacturing the product, faster production, etc.
Applied to service companies, mass customization can offer the same advantages, that is, add value and reduce costs for the company. Assuming that a company provides image and style consulting services, there may be a mass customization in the strategy of using a method of using the tools of interaction with the client, but that such methods apply to their needs specifically, such as for example a method used by image consultants to discover a client's seasonal color chart.
