Beatrice and Benedick in Acts one and two vs. Hero and Claudio in Much Ado about Nothing :: essays research papers

The two sets of characters Beatrice and Benedick, and Hero and Claudio are two very different sets of people, however they have one thing in common, there is love between each couple. During acts one and two, we are shown how different Beatrice is to her cousin Hero, how similar Beatrice and Benedick are and how similar Hero and Claudio. When you first meet Beatrice and Hero, act one scene one, they have just heard from a messenger boy of the soldiers imminent return to their household. Immediately Beatrice asks about the whereabouts of one Signor Mountanto. Only Hero knows who that she means Signor Benedick of Padua. You then instantly learn that there is some history between Benedick and Beatrice, Leonato explains, ?You must not, sir, mistake my niece: there is a kind of merry war betwixt Signor Benedick and her: they never meet but there?s a skirmish of wit between them? This tells you straightaway that there is a connection between the two, but so far we do not hear more. So far, Beatrice has spoken a lot and Hero we have only heard from once to correct the name Beatrice gives to the messenger. Beatrice teases the messenger boy about Benedick, until Beatrice?s uncle tells the messenger about the ?merry war?. It seems that Beatrice is an example of how a women shouldn?t behave around men where as Hero is showing how to be a ?proper? lady by keeping quiet until asked for. Beatrice is presented as a very passionate person, whilst Shakespeare has presented Hero as a meek, timid woman, in fact Hero only speaks one line. You finally meet the soldiers, including Claudio and Benedick, later in Act one, Scene 1. When the soldiers do come in Claudio does not say anything until he is on his own with his friend Benedick. In this way he is very like Hero, he doesn?t say anything as it is not needed, he does not add to conversation. In fact when he does speak, you see a passionate side to him come out as he tells of his liking of Hero, in this way he is very like Beatrice as he has a very passionate personality, although he, unlike Beatrice, keeps it under wraps. When you first hear Benedick speak, he in conversation with Leonato and Don Pedro but by the 3rd time that you hear him speak, he has already engaged into a heated conversation with Beatrice.

Additional Solved Sums, Financial Management, Prassanna Chandra

CHAPTER 2 1. As a rule of thumb, real rates of interest are calculated by subtracting the inflation rate from the nominal rate. What is the error from using this rule of thumb for calculating real rates of return in the following cases? Nominal rate (%)7121822 Inflation rate (%)4 6 810 Solution: [pic] 2. As a rule of thumb, real rates of interest are calculated by subtracting the inflation rate from the nominal rate. What is the error from using this rule of thumb for calculating real rates of return in the following cases? Nominal rate (%)481119 Inflation rate (%)13 2 4 Solution: [pic] CHAPTER 3 1. At the end of March, 20X6 the balances in the various accounts of Dhoni & Company are as follows: Rs. in million Accounts Balance Equity capital 120 Preference capital 30 Fixed assets (net) 217 Reserves and surplus 200 Cash and bank 35 Debentures (secured) 100 Marketable securities 18 Term loans (secured) 90 Receivables 200 Short-term bank borrowing (unsecured) 70 Inventories210 Trade creditors 60 Provisions 20 Pre-paid expenses 10 Required: Prepare the balance sheet of Dhoni & Company as per the format specified by the Companies Act. Solution: Balance Sheet of Dhoni & Company As on March 31, 20 X 6 Liabilities | |Assets | | |Share capital | |Fixed assets |   | |Equity |120 |Net fixed assets |217 | |Preference |30 | |   | |Reserve & surplus |200 |Investments |   | |   | |Marketable securities |18 | |Secured loans | |Current assets, loans & advances |   | |Debentures |100 | |   | |Term loans |90 | | | |   | |Pre-paid expenses |10 | |Unsecured loans | |Inventories |21 0 | |Short term ank borrowing |70 |Receivables |200 | |Current liabilities & provisions | |Cash & Bank |35 | |Trade creditors |60 | |   | |Provisions |20 | |   | |   |690 |   |690 | 2. At the end of March, 20X7 the balances in the various accounts of Sania Limited are as follows: Rs. in million Accounts Balance Equity capital 250 Preference capital 80 Fixed assets (net)380 Reserves and surplus350 Cash and bank100 Debentures (secured)190 Marketable securities 30 Term loans (secured)120 Receivables420 Short-term bank borrowing (unsecured) 110 Inventories310 Trade creditors 90 Provisions 70 Pre-paid expenses 20 Required: Prepare the balance sheet of Sania Limited as per the format specified by the Companies Act. Solution: Balance Sheet of Sania Limited as on March 31, 20 X 7 Liabilities | |Assets | | |   | | |   | |Share capital | |Fixed assets |   | |Equity |250 |Net fixed assets |380 | |Preference |80 | |   | |Reserve & surplus |350 |Investments |   | |   | |M arketable securities |30 | |Secured loans | |Current assets, loans & advances |   | |Debentures |190 | |   | |Term loans |120 | | | |   | |Pre-paid expenses |20 | |Unsecured loans | |Inventories |310 | |Short term bank borrowing |110 |Receivables |420 | |Current liabilities & provisions | |Cash & Bank |100 | |Trade creditors |90 | |   | |Provisions |70 | |   | |   |1260 |   |1260 | 3. The comparative balance sheets of Evergreen Company are given below: (Rs. in million) Owners' Equity and Liabilities As on 31. 3. 20X6 As on 31. 3. 20X7 Share capital 70 70 Reserves and surplus 40 80 Long-term debt 80 90 Short-term bank borrowings 80 85 Trade creditors 40 70 Provisions 10 20 Total320415 Assets Fixed assets (net)120210 Inventories 90 95 Debtors 60 65 Cash 25 30 Other assets 25 15 Total320415 The profit and loss account of Evergreen Company for the year ending 31st March 2007 is given below: (Rs. in million) Profit & Loss Account for the Period 1. 4. 20X6 to 31. 3. 20X7 Net sales750 Cost of goods sold 505 Stocks290 Wages and salaries105 Other manufacturing expenses110 245 Gross profit Operating expenses135 Selling, administration and general120 Depreciation 15 Operating profit110 Non-operating surplus or deficit(20) EBIT 90 Interest 25 Profit before tax 65 Tax 15 Profit after tax 50 Dividends 10 Retained earnings 40 Required: (a) Prepare the classified cash flow statement for the period 1. 4. 20X6 to 31. 3. 20X7 b) Develop the cash flow identity for the period 1. 4. 20X6 to 31. 3. 20X7 Solution: |A. Cash flow from operating activities | | |- |Net profit before tax and extraordinary items | |85 | | |- |Adjustments for | | | | | |Interest paid | |25 | | | |Depreciation | |15 | | |- |Operating profit before working capital changes |125 | | |- |Adjustments for | | | | | |Inventories | |(5) | | | |Debtors | |(5) | | | |Trade creditors | |30 | | | |Provisions | |10 | | | |Increase in other assets | |10 | | |- |Cash generated rom operations | |165 | | | |Income tax paid | |(15) | | |- |Cash flow before extraordinary items | |150 | | | |Extraordinary item | |(20) | | |- |Net cash flow from operating activities | |130 | |B. |Cash flow from investing activities | | | | |- |Purchase of fixed assets | |(105) | | |- |Net cash flow from investing activities | |(105) | | | | | | | |C. Cash flow from financing activities | | | | |- |Increase in loans | |15 | | |- |Dividends paid | |(10) | | |- Interest paid | |(25) | | |Net cash flow from financing activities | |(20) | | | | | | | |D. |Net increase in cash and cash equivalents | |5 | | |- |Cash and cash equivalents as on 31. 03. 0X6 |25 | | |- |Cash and cash equivalents as on 31. 03. 20Ãâ€"7 | |30 | NoteIt has been assumed that â€Å"other assets† represent â€Å"other current assets†. (b) A. Cash flow from assets -Operating cash flow90 -Net capital spending (105) -Decrease in net working capital35 -Cash flow from assets20 B. Cash flow to creditors -Interest paid25 -Repayment of long term debt (15) -Cash flow to creditors10 C. Cash flow to shareholders -Dividends paid10 -Net new equity raised 0 -Cash flow to shareholders10 We find that (A)=(B) + ( C) i. e. Cash flow from assets=Cash flow to creditors + Cash flow to shareholders 4. The comparative balance sheets of Xavier Limited are given below: (Rs. in million) Owners' Equity and Liabilities As on 31. 3. 20X6 As on 31. 3. 20X7 Share capital 20 30 Reserves and surplus 10 18 Long-term debt 30 25 Short-term bank borrowings 15 15 Trade creditors 10 15 Provisions 5 8 Total 90 111 Assets Fixed assets (net) 16 20 Inventories 44 55 Debtors 20 21 Cash 5 8 Other assets 5 7 Total 90 111 The profit and loss account of Xavier Limited for the year 2007 is given below: (Rs. in million) Profit & Loss Account for the Period 1. 4. 20X6 to 31. 3. 20X7 Net sales220 Cost of goods sold 140 Stocks 90 Wages and salaries 35 Other manufacturing expenses 15 80 Gross profit Operating expenses 40 Selling, administration and general 20 Depreciation 5 Operating profit 15 Non-operating surplus or deficit 1 EBIT 16 Interest 4 Profit before tax 12 Tax 2 Profit after tax 10 Dividends 2 Retained earnings 8 Required: (a) Prepare the classified cash flow statement for the period 1. 4. 20X6 to 31. 3. 20X7 b) Develop the cash flow identity for the period 1. 4. 20X6 to 31. 3. 20X7 Solution: |A. Cash flow from operating activities | | | | |- |Net profit before tax and extraordinary items | |11 | | |- |Adjustments for | | | | | |Interest paid | | 4 | | | |Depreciation | | 5 | | |- |Operating profit before working capital changes | 20 | | | | Adjustments for | | | | |- | | | | | | |Inventories | |(11) | | | |Debtors | | (1) | | | |Trade creditors | | 5 | | | |Provisions | | 3 | | | |Increase in other assets | | (2) | | |- |Cash generated from operations | | 14 | | | |Income tax paid | | (2) | | |- |Cash flow before extraordinary items | | 12 | | | |Extraordinary item | | 1 | | |- |Net cash flow from operating activities | | 13 | |B. |Cash flow from investing activities | | | | |- |Purchase of fixed assets | | (9) | | |- |Net cash flow from investing activities | | (9) | | | | | | | |C. Cash flow from financing activities | | 10 | | |- Increase in equity | | | | |- |Repayment of term loans | | (5) | | | |-Dividend paid | |(2) | | |- |Interest paid | | (4) | | |Net cash flow from financing activities | | (1) | | | | | | | |D. |Net increase in cash and cash equivalents | | 3 | | |- |Cash and cash equivalents as on 31. 03. 20X6 | 5 | | |- |Cash and cash equivalents as on 31. 03. 20Ãâ€"7 | | 8 | NoteIt has been assumed that â€Å"other assets† represent â€Å"other current assets†. (b) ACash flow from assets -Operating cash flow19 -Net capital spending(9) -Decrease in net working capital(9) Cash flow from assets 1 B. Cash flo w to creditors -Interest paid 4 -Repayment of long term debt 5 -Cash flow to creditors 9 C. Cash flow to shareholders -Dividends paid 2 -Net new equity raised(10) -Cash flow to shareholders (8) We find that (A)=(B) + ( C) i. e. , Cash flow from assets=Cash flow to creditors + Cash flow to shareholders CHAPTER 4 1. Premier Company's net profit margin is 8 percent, total assets turnover ratio is 2. 5 times, debt to total assets ratio is 0. 6. What is the return on equity for Premier? Solution: Net profit Return on equity = Equity = Net profit Net sales Total assets x x Net sales Total assets Equity 1 = 0. 08 x 2. 5 x = 0. 5 or 50 per cent 0. 4 Debt Equity Note : = 0. 6 So = 1- 0. 6 = 0. 4 Total assets Total assets Hence Total assets/Equity = 1/0. 4 2. The following information is given for Alpha Corporation Sales3500 Current ratio1. 5 Acid test ratio1. 2 Current liabilities1000 What is the inventory turnover ratio? Solution: Current assets = Current liabilities x 1. 5 = 1000 x 1. 5 = 1500 Quick assets= Current liabilities x 1. 2 = 1000 x 1. 2 = 1200 Inventories= 300 3500 Inventory turnover ratio == 11. 7 300 3. The following information is given for Beta Corporation. Sales5000 Current ratio1. 4 Inventory turnover5 ratio Acid test ratio1. 0 What is the level of current liabilities? Solution: 4. Safari Inc. has profit before tax of Rs. 90 million. If the company's times interest covered ratio is 4, what is the total interest charge? Solution: PBT= Rs. 90 million PBIT Times interest covered = = 4 Interest So PBIT = 4 x Interest PBT = PBIT – interest = 4x interest- interest = 3 x interest = 90 million Therefore interest = 90/3 = Rs. 30 million 5. A has profit before tax of Rs. 0 million. If its times interest covered ratio is 6, what is the total interest charge? Solution: PBT= Rs. 40 million PBIT Times interest covered = = 6 Interest So PBIT = 6 x Interest PBIT – Interest = PBT = Rs. 40 million 6 x Interest – Interest = Rs. 40 million 5 x Interest = Rs. 40 million Hence Interest = Rs. 8 million 6. McGill Inc. h as profit before tax of Rs. 63 million. If the company's times interest covered ratio is 8, what is the total interest charge? Solution: PBT= Rs. 63 million PBIT Times interest covered = = 8 Interest So PBIT = 8 x Interest PBIT – Interest = PBT = Rs. 63 million x Interest – Interest = 7 x Interest = Rs. 63 million Hence Interest = Rs. 9 million 7. The following data applies to a firm : Interest chargesRs. 200,000 SalesRs. 6,000,000 Tax rate40 percent Net profit margin5 percent What is the firm's times interest covered ratio? Solution: Sales = Rs. 6,000,000 Net profit margin = 5 per cent Net profit = Rs. 6,000,000 x 0. 05 = 300,000 Tax rate = 40 per cent 300,000 So, Profit before tax = = Rs. 500,000 (1-. 4) Interest charge = Rs. 200,000 So Profit before interest and taxes = Rs. 700,000 Hence 700,000 Times interest covered ratio = = 3. 5 200,000 8. The following data applies to a firm: Interest chargesRs. 50,000 SalesRs. 300,000 Tax rate 25 percent Net profit margin 3 percent What is the firm's times interest covered ratio? Solution: Sales = Rs. 300,000 Net profit margin = 3 per cent Net profit = Rs. 300,000 x 0. 03 = 9,000 Tax rate = 25 per cent 9,000 So, Profit before tax = = Rs. 12,000 (1-. 25) Interest charge = Rs. 50,000 So Profit before interest and taxes = Rs. 62,000 Hence 62,000 Times interest covered ratio == 1. 24 50,000 9. The following data applies to a firm : Interest chargesRs. 10,000,000 SalesRs. 80,000,000 Tax rate 50 percent Net profit margin 10 percent What is the firm's times interest covered ratio? Solution: Sales = Rs. 80,000,000 Net profit margin = 10 per cent Net profit = Rs. 80,000,000 x 0. 1 = 8,000,000 Tax rate = 50 per cent 8,000,000 So, Profit before tax = = Rs. 16,000,000 (1-. 5) Interest charge = Rs. 10,000,000 So Profit before interest and taxes = Rs. 26,000,000 Hence 26,000,000 Times interest covered ratio == 2. 6 10,000,000 10. A firm's current assets and current liabilities are 25,000 and 18,000 respectively. How much additional funds can it borrow from banks for short term, without reducing the current ratio below 1. 5? Solution: CA = 25,000CL = 18,000 Let BB stand for bank borrowing CA+BB = 1. 35 CL+BB 25,000+BB = 1. 35 18,000+BB 1. 35x 18,000 + 1. 35 BB = 25,000 + BB 0. 35BB = 25,000- 24,300 = 700 BB = 700/0. 35 = 2,000 11. LNG’s current assets and current liabilities are 200,000 and 140,000 respectively. How much additional funds can it borrow from banks for short term, withou t reducing the current ratio below 1. 33? Solution: CA = 200,000CL = 140,000 Let BB stand for bank borrowing CA+BB = 1. 33 CL+BB 200,000+BB = 1. 33 140,000+BB 1. 33 x 140,000 + 1. 33BB = 200,000 + BB 0. 33 BB = 200,000- 186,200 = 13,800 BB =13,800/0. 33 = 41,818 12. Navneet’s current assets and current liabilities are 10,000,000 and 7,000,000 respectively. How much additional funds can it borrow from banks for short term, without reducing the current ratio below 1. 4? Solution: CA = 10,000,000CL = 7,000,,000 Let BB stand for bank borrowing CA+BB = 1. 4 CL+BB 10,000,000+BB = 1. 4 7,000,000+BB 1. 4 x 7,000,000 + 1. 4BB = 10,000,000 + BB 0. 4 BB = 10,000,000- 9,800,000 = 200,000 BB = 200,000/0. 40 = 500,000 13. A firm has total annual sales (all credit) of 25,000,000 and accounts receivable of 8,000,000. How rapidly (in how many days) must accounts receivable be collected if management wants to reduce the accounts receivable to 6,000,000? Solution: 25,000,000 Average daily credit sales = = 68,493 365 If the accounts receivable has to be reduced to 6,000,000 the ACP must be: 6,000,000 = 87. 6 days 68,493 14. A firm has total annual sales (all credit) of 1,200,000 and accounts receivable of 500,000. How rapidly (in how many days) must accounts receivable be collected if management wants to reduce the accounts receivable to 300,000? Solution: 1,200,000 Average daily credit sales = = 3287. 67 365 If the accounts receivable has to be reduced to 300,000 the ACP must be: 300,000 = 91. 3 days 3287. 67 15. A firm has total annual sales (all credit) of 100,000,000 and accounts receivable of 20,000,000. How rapidly (in how many days) must accounts receivable be collected if management wants to reduce the accounts receivable to 15,000,000? Solution: 100,000,000 Average daily credit sales = = 273,972. 6 365 If the accounts receivable has to be reduced to 15,000,000 the ACP must be: 15,000,000 = 54. 8 days 273,972. 6 16. The financial ratios of a firm are as follows. Current ratio = 1. 25 Acid-test ratio = 1. 10 Current liabilities=2000 Inventory turnover ratio=10 What is the sales of the firm? Solution: Current assets = Current liabilities x Current ratio = 2000 x 1. 25 = 2500 Current assets – Inventories = Current liabilities x Acid test ratio 2000 x 1. 10 = 2200 Inventories = 300 Sales = Inventories x Inventory turnover ratio = 300 x 10 = 3000 17. The financial ratios of a firm are as follows. Current ratio = 1. 33 Acid-test ratio = 0. 80 Current liabilities=40,000 Inventory turnover ratio=6 What is the sales of the firm? Solution: Current assets = Current liabilities x Curre nt ratio = 40,000 x 1. 33 = 53,200 Current assets – Inventories = Current liabilities x Acid test ratio = 40,000 x 0. 80 = 32,000 Inventories = 21,200 Sales = Inventories x Inventory turnover ratio = 21,200 x 6 = 127,200 18. The financial ratios of a firm are as follows. Current ratio = 1. 6 Acid-test ratio = 1. 2 Current liabilities=2,000,000 Inventory turnover ratio=5 What is the sales of the firm? Solution: Current assets = Current liabilities x Current ratio = 2,000,000 x 1. 6 = 3,200,000 Current assets – Inventories = Current liabilities x Acid test ratio = 2,000,000 x 1. 2 = 2,400,000 Inventories = 800,000 Sales = Inventories x Inventory turnover ratio = 800,000 x 5 = 4,000,000 19. Complete the balance sheet and sales data (fill in the blanks) using the following financial data: Debt/equity ratio= 0. 80 Acid-test ratio= 1. 1 Total assets turnover ratio= 2 Days' sales outstanding in Accounts receivable= 30 days Gross profit margin= 30 percent Inventory turnover ratio = 6 Balance sheet Equity capital 80,000Plant and equipment. . . . Retained earnings 50,000Inventories. . . . Short-term bank borrowings . . . . Accounts receivable. . . . Cash. . . . . . . .. . . . Sales. . . . Cost of goods sold †¦Ã¢â‚¬ ¦.. Solution: Debt/equity = 0. 80 Equity = 80,000 + 50,000 = 130,000 So Debt = Short-term bank borrowings = 0. x 130,000 = 104,000 Hence Total assets = 130,000+104,000 = 234,000 Total assets turnover ratio = 2 So Sales = 2 x 234,000 = 468,000 Gross profit margin = 30 per cent So Cost of goods sold = 0. 7 x 468,000 = 327,600 Day’s sales outstanding in accounts receivable = 30 days Sales So Accounts receivable = x 30 360 468,000 = x 30 = 39,000 360 Cost of goods sold 327,600 Inventory turnover ratio === 6 Inventory Inventory So Inventory = 54,600 As short-term bank borrowing is a current liability, Cash + Accounts receivable Acid-test ratio = Current liabilities Cash + 39,000 = = 1. 1 104 ,000 So Cash = 75,400 Plant and equipment = Total assets – Inventories – Accounts receivable – Cash = 234,000 – 54,600 – 39,000 – 75,400 = 65,000 Putting together everything we get Balance Sheet Equity capital 80,000Plant & equipment65,000 Retained earnings50,000Inventories54,600 Short-term bank borrowings 104,000Accounts receivable39,000 Cash75,400 234,000 234,000 Sales 468,000 Cost of goods sold327,600 20. Complete the balance sheet and sales data (fill in the blanks) using the following financial data: Debt/equity ratio= 0. 40 Acid-test ratio= 0. 9 Total assets turnover ratio= 2. 5 Days' sales outstanding in Accounts receivable= 25 days Gross profit margin= 25 percent Inventory turnover ratio = 8 Balance sheet Equity capital 160,000,000Plant and equipment——–Retained earnings 30,000,000Inventories †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Short-term bank borrowings . . . †¦Ã¢â‚¬ ¦ Accounts receivable †¦.. . . . Cash . . . . . . . . . . . . Sales †¦. †¦. Cost of goods sold †¦Ã¢â‚¬ ¦. Solution: Debt/equity = 0. 40 Equity = 160,000,000 + 30,000,000 = 190,000,000 So Debt = Short-term bank borrowings = 0. 4 x 190,000,000 = 76,000,000 Hence Total assets = 190,000,000+ 76,000,000 = 266,000,000 Total assets turnover ratio = 2. 5 So Sales = 2. 5 x 266,000,000 = 665,000,000 Gross profit margin = 25 per cent So Cost of goods sold = 0. 75 x 665,000,000 = 498,750,000 Day’s sales outstanding in accounts receivable = 25 days Sales So Accounts receivable = x 25 360 665,000,000 = x 25 = 46,180,556 360 Cost of goods sold 498,750,000 Inventory turnover ratio == = 8 Inventory Inventory So Inventory = 62,343,750 As short-term bank borrowings is a current liability, Cash + Accounts receivable Acid-test ratio = Current liability Cash + 46,180,556 = = 0. 9 76,000 ,000 So Cash = 22,219,444 Plant and equipment = Total assets – Inventories – Accounts receivable – Cash 266,000,000 – 62,343,750 – 46,180,556 – 22,219,444 = 135,256,250 Putting together everything we get Balance Sheet Equity capital 160,000,000Plant & equipment 135,256,250 Retained earnings 30,000,000Inventories62,343,750 Short-term bank borrowings 76,000,000Accounts receivable46,180,556 Cash22,219,444 266,000,000 266,000,000 Sales 665,000,000 Cost of goods so ld 498,750,000 21. Complete the balance sheet and sales data (fill in the blanks) using the following financial data: Debt/equity ratio= 1. 5 Acid-test ratio= 0. 3 Total assets turnover ratio= 1. 9 Days' sales outstanding in Accounts receivable= 25 days Gross profit margin= 28 percent Inventory turnover ratio = 7 Balance sheet Equity capital 600,000Plant and equipment. . . . Retained earnings 100,000Inventories. . . . Short-term bank borrowings . . . Accounts receivable. . . . Cash. . . . . . . .. . . . Sales. . . †¦.. Cost of goods sold†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Solution: Debt/equity = 1. 5 Equity = 600,000 + 100,000 = 700,000 So Debt = Short-term bank borrowings =1. 5 x 700,000 = 1050,000 Hence Total assets = 700,000+1050,000 = 1,750,000 Total assets turnover ratio = 1. 9 So Sales = 1. 9 x 1,750,000 = 3,325,000 Gross profit margin = 28 per cent So Cost of goods sold = 0. 2 x 3,325,000 = 2,394,000 Day’s sales outstanding in accounts receivable = 25 days Sales So Accounts receivable = x 25 360 3,325,000 = x 25 = 230,903 360 Cost of goods sold 2,394,000 Inventory turnover ratio === 7 Inventory Inventory So Inventory = 342,000 As short-term bank borrowings is a current liability , Cash + Accounts re ceivable Acid-test ratio = Current liabilities Cash + 230,903 = = 0. 3 1050 ,000 So Cash = 84,097 Plant and equipment = Total assets – Inventories – Accounts receivable – Cash = 1,750,000 – 342,000 – 230,903 – 84,097 = 1,093,000 Putting together everything we get Balance Sheet Equity capital 600,000Plant &equipment 1,093,000 Retained earnings100,000Inventories 342,000 Short-term bank borrowings 1050,000Accounts receivable 230,903 Cash 84,097 1,750,000 1,750,000 Sales 3,325,000 Cost of goods sold2,394,000 22. Compute the financial ratios for Acme Ltd. Evaluate Acme's performance with reference to the standards. Acme Limited Balance Sheet, March 31, 20X7 Liabilities and Equity Equity capital Rs. 60,000,000 Reserves and surplus45,000,000 Long-term debt72,000,000 Short-term bank borrowing40,000,000 Trade creditors30,000,000 Provisions15,000,000 Total 62,000,000 Assets Fixed assets (net) Rs. 110,000,000 Current assets Cash and bank 30,000,000 Receivables45,000,000 Inventories 61,000,000 Pre-paid expenses 10,000,000 Others 6,000,000 Total 262,000,000 Acme Limited Profit and Loss Account for the Year Ended March 31, 20X7 Net sales Rs. 320,000,000 Cost of goods sold 204,000,000 Gross profit 116,000,000 Operating expenses 50,000,000 Operating profit 66,000,000 Non-operating surplus 4,000,000 Profit before interest and tax 70,000,000 Interest 12,000,000 Profit before tax 58,000,000 Tax 20,000,000 Profit after tax 38,000,000 Dividends 4,000,000 Retained earnings 34,000,000 AcmeStandard Current ratio 1. 3 Acid-test ratio 0. 70 Debt-equity ratio 2. 0 Times interest covered ratio 4. 5 Inventory turnover ratio 5. 0 Average collection period 45 days Total assets turnover ratio 1. 5 Net profit margin ratio 8 % Earning power 20 % Return on equity 18 % Solution: For purposes of ratio analysis, we may recast the balance sheet as under. Let assume that ‘Others’ in the balance sheet represents other current assets. Liabilities and Equity Equity capital . 60,000,000 Reserves and surplus45,000,000 Long-term debt72,000,000 Short-term bank borrowing40,000,000 Total 217,000,000 Fixed assets (net) 110,000,000 Current assets Cash and bank30,000,000 Receivables45,000,000 Inventories61,000,000 Pre-paid expenses10,000,000 Others 6,000,000 152,000,000 Less: Current liabilities Trade creditors30,000,000 Provisions15,000,000 45,000,000 Net current assets 107,000,000 Total 217,000,000 Current assets (i) Current ratio = Current liabilities 152,000,000 == 1. 8 85,000,000 (Current liabilities here includes short-term bank borrowing also) Current assets – Inventories 91,000,000 (ii) Acid-test ratio = == 1. 1 Current liabilities 85,000,000 Current liabilities here includes short-term bank borrowing also) Long-term debt + Short-term bank borrowing (iii) Debt-equity ratio = Equity capital + Reserves & surplus 72,000,000 + 40,000,000 = = 1. 1 60,000,000 + 45,000,000 Profit before interest and tax (iv) Times interest coverage ratio = Interest 70,000,000 == 5. 83 12,000,000 Cost of goods sold204,000,000 (v) Inventory turnover period = = = 3. 34 Invent ory61,000,000 365 (vi) Average collection period = Net sales / Accounts receivable 365 = =51. 3 days 320,000,000/45,000,000 (vii) Total assets =Equity + Total debt =( 60,000,000 + 45,000,000 ) +(72,000,000+40,000,000) = 217,000,000 Net sales320,000,000 Total assets turnover ratio = == 1. 5 Total assets217,000,000 Profit after tax 38,000,000 (ix) Net profit margin= = = 11. 9% Net sales 320,000,000 PBIT 70,000,000 (x) Earning power = = = 32. 3 % Total assets 217,000,000 Equity earning 38,000,000 (xi) Return on equity = = = 36. 2 % Net worth 105,000,000 The comparison of the Acme’s ratios with the standard is given below AcmeStandard Current ratio 1. 8 1. 3 Acid-test ratio 1. 1 0. 7 Debt-equity ratio 1. 1 2. 0 Times interest covered ratio 5. 8 4. 5 Inventory turnover ratio 3. 3 5. 0 Average collection period 51. 3 days 45 days Total assets turnover ratio 1. 5 1. 5 Net profit margin ratio 11. 9 % 8 % Earning power 32. 3 % 20 % Return on equity 36. 2 % 18 % 23. Compute the financial ratios for Nainar Ltd. Evaluate Nainar's performance with reference to the standards. Nainar Limited Balance Sheet, March 31, 20X7 Liabilities and Equity Equity capital Rs. 100,000,000 Reserves and surplus 65,000,000 Long-term debt 140,000,000 Short-term bank borrowing 70,000,000 Trade creditors 24,000,000 Provisions 19,000,000 Total 418,000,000 Assets Fixed assets (net) Rs. 206,000,000 Current assets Cash and bank 25,000,000 Receivables 70,000,000 Inventories 85,000,000 Pre-paid expenses 20,000,000 Others 12,000,000 Total 418,000,000 Nainar Limited Profit and Loss Account for the Year Ended March 31, 20X7 Net sales Rs. 740,000,000 Cost of goods sold 520,000,000 Gross profit 220,000,000 Operating expenses 102,000,000 Operating profit 118,000,000 Non-operating surplus 12,000,000 Profit before interest and tax 130,000,000 Interest 22,000,000 Profit before tax 108,000,000 Tax 46,000,000 Profit after tax 62,000,000 Dividends 20,000,000 Retained earnings 42,000,000 NainarStandard Current ratio 1. 7 Acid-test ratio 1. 0 Debt-equity ratio 1. 4 Times interest covered ratio 5. 5 Inventory turnover ratio 6. 0 Average collection period 40 days Total assets turnover ratio 2. 0 Net profit margin ratio 8 % Earning power 30 % Return on equity 35 % Solution: For purposes of ratio analysis, we may recast the balance sheet as under. Let assume that ‘Others’ in the balance sheet represents other current assets. Liabilities and Equity Equity capital 100,000,000 Reserves and surplus 65,000,000 Long-term debt 140,000,000 Short-term bank borrowing 70,000,000 Total 375,000,000 Assets Fixed assets (net) 206,000,000 Current assets Cash and bank 25,000,000 Receivables 70,000,000 Inventories 85,000,000 Pre-paid expenses 20,000,000 Others 12,000,000 212,000,000 Less: Current liabilities Trade creditors24,000,000 Provisions19,000,000 43,000,000 Net current assets 169,000,000 Total 375,000,000 Current assets (i) Current ratio = Current liabilities 212,000,000 == 1. 9 113,000,000 ( Current liabilities here includes short-term bank borrowing also) Current assets – Inventories 127,000,000 (ii) Acid-test ratio = == 1. 1 Current liabilities 113,000,000 ( Current liabilities here includes short-term bank borrowing also) Long-term debt + Short-term bank borrowing (iii) Debt-equity ratio = Equity capital + Reserves & surplus 140,000,000 + 70,000,000 = = 1. 3 100,000,000 + 65,000,000 Profit before interest and tax (iv) Times interest coverage ratio = Interest 130,000,000 == 5. 9 22,000,000 Cost of goods sold520,000,000 (v) Inventory turnover period = = = 6. 1 Inventory85,000,000 365 (vi) Average collection period = Net sales / Accounts receivable 365 = =34. 5 days 740,000,000/70,000,000 (vii) Total assets = Equity + Total debt =(100,000,000 + 65,000,000 ) +(140,000,000+70,000,000) = 375,000,000 Net sales740,000,000 Total assets turnover ratio = == 2. 0 Total assets375,000,000 Profit after tax 62,000,000 (ix) Net profit margin= = = 8. 4 % Net sales 740,000,000 PBIT 130,000,000 (x) Earning power = = = 34. 7 % Total assets 375,000,000 Equity earning 62,000,000 (xi) Return on equity = = = 37. 6 % Net worth 165,000,000 The comparison of the Nainar’s ratios with the standard is given below NainarStandard Current ratio 1. 9 1. 7 Acid-test ratio 1. 1 1. 0 Debt-equity ratio 1. 3 1. 4 Times interest covered ratio 5. 9 5. 5 Inventory turnover ratio 6. 1 6. 0 Average collection period 34. 5 days 40 days Total assets turnover ratio 2. 0 2. 0 Net profit margin ratio 8. 4 % 8 % Earning power 34. 7 % 30 % Return on equity 37. 6 % 35 % 24. The comparative balance sheets and comparative Profit and Loss accounts for Nalvar Limited, are given below: Comparative Balance Sheets, Nalvar Limited (Rs. in million) | |20X3 |20X4 |20X5 |20X6 |20X7 | |Share capital |1. 6 |1. 6 |1. |1. 8 |2 | |Reserves and surplus |1. 0 |1. 6 |2. 4 |2. 3 |3 | |Long-term debt |1. 4 |1. 5 |1. 8 |1. 6 |1. 4 | |Short-term bank borrowing |1. 3 |1. 5 |1. 7 |1. 5 |1. 2 | |Current liabilities |1. 1 |1. 3 |1. 5 |1. 6 |1. 8 | |Total |6. 4 |7. 5 |9. 2 |8. |9. 4 | |Assets | | | | | | |Net fixed assets |1. 2 |1. 4 |2 |1. 7 |2 | |Current assets | | | | | | | Cash and bank |0. 3 |0. 3 |0. 2 |0. 4 |0. 3 | | Receivables |1. 8 |2. 1 |2. 5 |2. 4 |2. | | Inventories |1. 8 |2. 2 |2. 8 |2. 4 |2. 8 | | |1. 3 |1. 5 |1. 7 |1. 9 |1. 8 | |Other assets | | | | | | |Total |6. 4 |7. 5 |9. 2 |8. 8 |9. 4 | | | | | | | | Comparative Profit and Loss Accounts, Nalvar Limited (Rs. in million) | | |20X4 |20X5 |20X6 |20X7 | | |20X3 | | | | | | | | | | | | |Net sales |3. 8 |4. 2 |5. 3 |6. 5 |7. 8 | |Cost of goods sold |2. 6 |3. |3. 9 |4 |4. 8 | |Gross profit |1. 2 |1. 1 |1. 4 |2. 5 |3 | |Operating expenses |0. 3 |0. 3 |0. 4 |0. 6 |0. 6 | |Operating profit |0. 9 |0. 8 |1 |1. 9 |2. 4 | |Non-operating surplus deficit |0. 1 |0. 2 |0. 1 |0. 3 |0. 3 | |Profit before interest and tax |1 |1 |1. |2. 2 |2. 7 | |Interest |0. 1 |0. 1 |0. 2 |0. 1 |0. 1 | |Profit before tax |0. 9 |0. 9 |0. 9 |2. 1 |2. 6 | |Tax |0. 05 |0. 08 |1 |1. 2 |1. 2 | |Profit after tax |0. 85 |0. 82 |-0. 1 |0. 9 |1. 4 | Required: Compute the important ratios for Nalvar Limited for the years 20X3-20X7. You may assume that other assets in the balance sheet represent other current assets. †¢ Current ratio †¢ Debt-equity ratio †¢ Total assets turnover ratio †¢ Net profit margin †¢ Earning power †¢ Return on equity Solution: We will rearrange the balance sheets as under for ratio analysis. It is assumed that ‘Other assets’ are other current assets |Liabilities and Equity | | | | | | |†¢ Current ratio |2. 2 |2. 2 |2. 3 |2. 3 |2. 5 | |†¢Ã‚  Ã‚  Ã‚  Debt-equity ratio |1. 0 |0. 9 |0. 8 |0. 8 |0. | |Total assets turnover ratio |0. 7 |0. 7 |0. 7 |0. 9 |1. 0 | |†¢Ã‚  Ã‚  Ã‚  Net profit margin(%) |22. 4 |19. 5 |-1. 9 |13. 8 |17. 9 | |†¢Ã‚  Ã‚  Ã‚  Earning power (%) |18. 9 |16. 1 |14. 3 |30. 6 |35. 5 | |†¢Ã‚  Ã‚  Ã‚  Return on equity (%) |32. 7 |25. 6 |-2. 4 |22. 0 |28. 0 | 26. The comparative balance sheets and comparative Profit and Loss accounts for Somani Limited, a machine tool manufacturer, are given below: Comparative Ba lance Sheets, Somani Limited (Rs. in million) | | | 20X5 | 20X6 | 20X7 | | | |20X4 | | | | | |20X3 | | | | | |Share capital |41 |50 |50 |50 |55 | |Reserves and surplus |16 |36 |72 |118 |150 | |Long-term debt |28 |25 |30 |29 |22 | |Short-term bank borrowing |35 |30 |36 |38 |38 | |Current liabilities |24 |28 |30 |30 |25 | |Total |144 |169 |218 |265 |290 | |Assets | | | | | | |Net fixed assets |72 |80 |75 |102 |103 | |Current assets | | | | | | | Cash and bank |8 |9 |15 |12 |11 | | Receivables |24 |30 |59 |62 |85 | | Inventories |35 |42 |55 |75 |79 | |Other Assets |5 |8 |14 |14 |12 | |Total |144 |169 |218 |265 |290 | | | | | | | | |Comparative Profit & Loss Account of Somani Ltd | | (Rs. n million) | | | |20X4 |20X5 |20X6 |20X7 | | |20X3 | | | | | |Net sales |285 |320 |360 |350 |355 | |Cost of goods sold |164 |150 |170 |175 |174 | |Gross profit |121 |170 |190 |175 |181 | |Operating expenses |64 |66 |68 |68 |64 | |Operating profit |57 |104 |122 |107 |117 | |Non-operating surplus defic it |3 |4 |4 |3 |3 | |Profit before interest and tax |60 |108 |126 |110 |120 | |Interest |8 |6 |10 |12 |12 | |Profit before tax |52 |102 |116 |98 |108 | |Tax |15 |26 |30 |26 |29 | |Profit after tax |37 |76 |86 |72 |79 | | | | | | | | Compute the following ratios for years 20X3-20X7: †¢ Current ratio †¢ Debt-equity ratio †¢ Total assets turnover ratio †¢ Net profit margin †¢ Earning power †¢ Return on equity For ratio analysis purpose, we will rearrange the balance sheet as under. It is assumed that ‘Other assets’ are other current assets 20X3 20X4 20X5 20X6 20X7 |Share capital | |41 | |50 | | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Current ratio |1. 2 |1. 5 |2. 2 |2. 4 |3. 0 | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Debt-equity ratio |1. 1 |0. 6 |0. 5 |0. 4 |0. | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Total assets turnover ratio |2. 4 |2. 3 |1. 9 |1. 5 |1. 3 | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Net profit margin (%) |13. 0 |23. 8 |23. 9 |20. 6 |22. 3 | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Earning power (%) |50. 0 |76. 6 |67. 0 |46. 8 |45. 3 | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Return on equity (%) |64. 9 |88. 4 |70. 5 |42. 9 |38. 5 | 26. The Balance sheets and Profit and Loss accounts of LKG Corporation are given below. Prepare the common size and common base financial statements |Balance Sheets (Rs. n million) | | |20Ãâ€"6 |20Ãâ€"7 | |Shareholders’ funds |256 |262 | |Loan funds |156 |212 | |Total |412 |474 | |Fixed assets |322 |330 | |Investments |15 |15 | |Net current assets |75 |129 | |Total |412 |474 | |Profit & Loss Accounts | |(Rs. n million) | | |20Ãâ€"6 |20Ãâ€"7 | |Net sales |623 |701 | |Cost of goods sold |475 |552 | |Gross profit |148 |149 | |PBIT |105 |89 | |Interest |22 |21 | |PBT |83 |68 | |Tax |41 |34 | |PAT |42 |34 | Solution: Common Size statements: Profit and Loss Account | |Regular ( in Rs. |Common Size(%) | | |million) | | | | |20Ãâ€"6 |20Ãâ€"7 | |20Ãâ€"6 |20Ãâ€"7 | |Net sales |623 |701 | |100 |100 | |Cost of goods sold |475 |552 | |76 |79 | |Gross profit |148 |149 | |24 |21 | |PBIT |105 |89 | |17 |13 | |Interest |22 |21 | |4 |3 | |PBT |83 |68 | |13 |10 | |Tax |41 |34 | |7 |5 |PAT |42 |34 | |7 |5 | | | | Balance Sheet | | |Regular ( in million)| |Common Size(%) | | |20Ãâ€"6 |20Ãâ€"7 | |20Ãâ€"6 |20Ãâ€"7 | |Shareholders' funds |256 |262 | |62 |55 | |Loan funds |156 |212 | |38 |45 | |Total |412 |474 | |100 |100 | |Fixed assets |322 |330 | |78 |70 | |Investments |15 |15 | |4 |3 | |Net current assets |75 |129 | |18 |27 | |Total |412 |474 | |100 |100 | 27. The Balance sheets and Profit and Loss accounts of Grand Limited are given below. Prepare the common size and common base financial statements Balance Sheet | | |20Ãâ€"6 |20Ãâ€"7 | |Shareholders’ fund |85 |85 | |Loan funds |125 |180 | |Total |210 |265 | |Fixed assets |127 |170 | |Investments |8 |10 | |Net current assets |75 |85 | |Total |210 |265 | |Profit & Loss Account | | |20Ãâ€"6 |20Ãâ€"7 | |Net sales 450 |560 | |Cost of goods sold |320 |410 | |Gross profit |130 |150 | |PBIT |85 |98 | |Interest |12 |17 | |PBT |73 |81 | |Tax |22 |38 | |PAT |51 |43 | Solution: |Balance Sheet |Regular (Rs. n million) |Common Size(%) | | |20Ãâ€"6 |20Ãâ€"7 |20Ãâ€"6 |20Ãâ€"7 | |Shareholders' funds |85 |85 |40 |32 | |Loan funds |125 |180 |60 |68 | |Total |210 |265 |100 |100 | |Fixed assets |127 |170 |60 |64 | |Investments |8 |10 |4 |4 | |Net current assets |75 |85 |36 |32 | |Total |210 |265 |100 |100 | |Profit & Loss Account |Regular (Rs. n million) |Common Size(%) | | |20Ãâ€"6 |20Ãâ€"7 |20Ãâ€"6 |20Ãâ€"7 | |Net sales |450 |560 |100 |100 | |Cost of goods sold |320 |410 |71 |73 | |Gross profit |130 |150 |29 |27 | |PBIT |85 |98 |19 |18 | |Interest |12 |17 |3 |3 | |PBT |73 |81 |16 |14 | |Tax |22 |38 |5 |7 | |PAT |51 |43 |11 |8 | |Common base year statements | |Balance Sheet |Regular (Rs. n million) |Common base year (%) | | |20Ãâ€"6 |20Ãâ€"7 |20Ãâ€"6 |20Ãâ€"7 | |Shareholders' funds |85 |85 |100 |100 | |Loan funds |125 |180 |100 |144 | |Total |210 |265 |100 |126 | |Fixed assets |127 |170 |100 |134 | |Investments |8 |10 |100 |125 | |Net current assets |75 |85 |100 |113 | |Total |210 |265 |100 |126 | |Profit & Loss Account |Regular (Rs. n million) |Common base year (% ) | | |20Ãâ€"6 |20Ãâ€"7 |20Ãâ€"6 |20Ãâ€"7 | |Net sales |450 |560 |100 |124 | |Cost of goods sold |320 |410 |100 |128 | |Gross profit |130 |150 |100 |115 | |PBIT |85 |98 |100 |115 | |Interest |12 |17 |100 |142 | |PBT |73 |81 |100 |111 | |Tax |22 |38 |100 |173 | |PAT |51 |43 |100 |84 | CHAPTER 5 1. The profit and loss account of Sasi Industires Limited for years 1 and 2 is given below: Using the percent of sales method, prepare the pro forma profit and loss account for year 3. Assume that the sales will be 3500 in year 3. If dividends are raised to 40, what amount of retained earnings can be expected for year 3? |Year | | |1 |2 | |Net sales |2300 |2700 | |Cost of goods sold |1760 |2000 | |Gross profit |540 |700 | |Selling expenses |150 |180 | |General and administration expenses |120 |124 | |Depreciation |94 |84 | |Operating profit |176 |312 | |Non-operating surplus deficit |12 |10 | |Earnings before interest and tax |188 |322 | |Interest |30 |38 | |Earnings before tax |158 |284 | |Tax |56 |96 | |Earnings after tax |102 |188 | |Dividends |35 |35 | |Retained earnings |67 |153 | Solution: |Year | | | | |1 |2 |Average percent |Proforma Profit & Loss| | | | |of sales |account for year 3 | | | | | |assuming sales of 3500| |Net sales |2300 |2700 |100 |3500 | |Cost of goods sold |1760 |2000 |75. 30 |2635. 43 | |Gross profit |540 |700 |24. 70 |864. 57 | |Selling expenses |150 |180 |6. 59 |230. 80 | |General and administration expenses |120 |124 |4. 90 |171. 7 | |Depreciation |94 |84 |3. 60 |125. 97 | |Operating profit |176 |312 |9. 60 |336. 14 | |Non-operating surplus deficit |12 |10 |0. 45 |15. 61 | |Earnings before interest and tax |188 |322 |10. 05 |351. 75 | |Interest |30 |38 |1. 36 |47. 46 | |Earnings before tax |158 |284 |8. 69 |304. 29 | |Tax |56 |96 |3. 00 |104. 3 | |Earnings after tax |102 |188 |5. 70 |199. 46 | |Dividends(given) |35 |35 | |40 | |Retained earnings |67 |153 | |159. 46 | 2. The profit and loss account of KG Electronics Limited for years 1 and 2 is given below: Using the percent of sales method, prepare the pro forma profit and loss account for year 3. Assume that the sales will be 26,000 in year 3. If dividends are raised to 500, what amount of retained earnings can be expected for year3 . |Year | | |1 |2 | |Net sales |18,230 |22,460 | |Cost of goods sold |13,210 |16100 | |Gross profit |5020 |6360 | |Selling expenses |820 |890 | |General and administration expenses

Essay on Karl Marx - 827 Words

Akhil Chawla English 10 Honors Mr. Immler May 17, 2000 The Life of Karl Marx Karl Marx was one of the greatest thinkers ever. Studying law and philosophy, he became an important social philosopher and revolutionary. He influenced the lives of millions of people in generations well past his. A man of mystery in the democratic societies, Karl Marx led an interesting life of new ideas that would influence millions in the future. Karl Marx was born on May 5th, 1818 (Karl Marx). He was the eldest son of Heinrich and Hennrietta Marx. He was born in Trier, Germany. Karl was the oldest surviving boy of nine children (Coser). Heinrich Marx was a very successful and well-educated lawyer (Marx, Karl, Britannica). Both parents were†¦show more content†¦On October 15th, 1842, Marx became editor of the Rheinische Zeitung. He was required to write many editorials from a variety of social issues. He also wrote about the new phenomenon of communism (Marx, Karl, Grolier). 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World War II Battle of the Bulge

The Battle of the Bulge was German offensive and key engagement of World War II, which lasted from December 16, 1944 until January 25, 1945. During the Battle of the Bulge, 20,876 Allied soldiers were killed, while another 42,893 were wounded, and 23,554 captured/missing. German losses numbered 15,652 killed, 41,600 wounded, and 27,582 captured/missing. Defeated in the campaign, Germany lost its offensive capability in the West. By early February, the lines returned to their December 16 location. Armies and Commanders Allies General Dwight D. EisenhowerGeneral Omar BradleyField Marshal Sir Bernard Montgomery830,000 men424 tanks/armored vehicles and 394 guns Germany Field Marshal Walter ModelField Marshal Gerd von RundstedtGeneral Sepp DietrichGeneral Hasso von Manteuffel500,000 men500 tanks/armored vehicles and 1,900 guns Background and Context With the situation on the Western Front rapidly deteriorating in the fall of 1944, Adolf Hitler issued a directive for an offensive designed to stabilize the German position. Assessing the strategic landscape, he determined that it would be impossible to strike a decisive blow against the Soviets on the Eastern Front. Turning west, Hitler hoped to exploit the strained relationship between General Omar Bradley and Field Marshal Sir Bernard Montgomery by attacking near the boundary of their 12th and 21st Army Groups. Hitlers ultimate goal was to compel the U.S. and U.K. to sign a separate peace so that Germany could focus its efforts against the Soviets in the East. Going to work, Oberkommando der Wehrmacht (Army High Command, OKW) developed several plans including one that called for a blitzkrieg-style attack through the thinly defended Ardennes, similar to the assault conducted during the Battle of France in 1940. The German Plan The final objective of this attack would be the capture of Antwerp which would split the American and British armies in the area, and would deprive the Allies of a badly needed seaport. Selecting this option, Hitler entrusted its execution to Field Marshals Walter Model and Gerd von Rundstedt. In preparing for the offensive, both felt that the capture of Antwerp was too ambitious and lobbied for more realistic alternatives. While Model favored a single drive west then north, von Rundstedt advocated for dual thrusts into Belgium and Luxembourg. In both cases, German forces would not cross the Meuse River. These attempts to change Hitlers mind failed and he directed his original plan to be employed.   To carry out the operation, General Sepp Dietrichs 6th SS Panzer Army would attack in the north with the goal of taking Antwerp. In the center, the assault would be made by General Hasso von Manteuffels 5th Panzer Army, with the goal of taking Brussels, while General Erich Brandenbergers 7th Army would advance in the south with orders to protect the flank. Operating under radio silence and taking advantage of poor weather which hampered Allied scouting efforts, the Germans moved the necessary forces into place. Running low on fuel, a key element of the plan was the successful capture of Allied fuel depots as the Germans lacked sufficient fuel reserves to reach Antwerp under normal combat conditions. To support the offensive, a special unit led by Otto Skorzeny was formed to infiltrate the Allied lines dressed as American soldiers. Their mission was to spread confusion and disrupt Allied troop movements. Allies in the Dark On the Allied side, the high command, led by General Dwight D. Eisenhower, was essentially blind to German movements due to a variety of factors. Having claimed air superiority along the front, Allied forces typically could rely on reconnaissance aircraft to provide detailed information on German activities. Due to the decaying weather, these aircraft were grounded. Additionally, due to the proximity to their homeland, the Germans increasingly used telephone and telegraph networks rather than radio for transmitting orders.  As a result, there were fewer radio transmissions for Allied code breakers to intercept. Believing the Ardennes to be a quiet sector, it was used as a recovery and training area for units that had seen heavy action or were inexperienced. In addition, most indications were that the Germans were preparing for a defensive campaign and lacked the capabilities for a large-scale offensive. Though this mentality permeated much of the Allied command structure, some intelligence officers, such as Brigadier General Kenneth Strong and Colonel Oscar Koch, warned that the Germans might attack in the near future, and that it would come against the U.S. VIII Corps in the Ardennes. The Attack Begins Commencing at 5:30 AM on December 16, 1944, the German offensive opened with a heavy barrage on the 6th Panzer Armys front. Pushing forward, Dietrichs men attacked American positions on Elsenborn Ridge and Losheim Gap in an attempt to break through to Lià ¨ge. Meeting heavy resistance from the 2nd and 99th Infantry Divisions, he was forced to commit his tanks to the battle. In the center, von Manteuffels troops opened a gap through the 28th and 106th Infantry Divisions, capturing two U.S. regiments in the process and increasing pressure on the town of St. Vith. Meeting increasing resistance, 5th Panzer Armys advance was slowed allowing the 101st Airborne to deploy by truck to the vital crossroads town of Bastogne. Fighting in snowstorms, the foul weather prevented Allied air power from dominating the battlefield. In the south, Brandenbergers infantry was essentially stopped by the U.S. VIII Corps after a four-mile advance. On December 17, Eisenhower and his commanders concluded that the attack was an all-out offensive rather than a local assault, and began rushing reinforcements to the area. At 3:00 a.m. on December 17, Colonel Friedrich August von der Heydte dropped with a German airborne force with the goal of capturing crossroads near Malmedy. Flying through foul weather, von der Heydtes command was scattered during the drop, and forced to fight as guerillas for the remainder of the battle. Later that day, members of Colonel Joachim Peipers Kampfgruppe Peiper captured and executed around 150 American POWs at Malmedy. One of the spearheads of 6th Panzer Armys attack, Peipers men captured Stavelot the next day before pressing onto Stoumont. Encountering heavy resistance at Stoumont, Peiper became cut off when American troops retook Stavelot on December 19. After attempting to break through to German lines, Peipers men, out of fuel, were forced to abandon their vehicles and fight on foot. To the south, American troops under Brigadier General Bruce Clarke fought a critical holding action at St. Vith. Forced to fall back on the 21st, they were soon driven from their new lines by the 5th Panzer Army. This collapse led to the encirclement of the 101st Airborne and the 10th Armored Divisions Combat Command B at Bastogne. The Allies Respond As the situation was developing at St. Vith and Bastogne, Eisenhower met with his commanders at Verdun on December 19. Seeing the German attack as an opportunity to destroy their forces in the open, he began issuing instructions for counterattacks. Turning to Lieutenant General George Patton, he asked how long it would take for Third Army to shift its advance north. Having anticipated this request, Patton had already begun issuing orders to this end and replied 48 hours. At Bastogne, the defenders beat off numerous German assaults while fighting in bitter cold weather. Short on supplies and ammunition, the 101sts commander, Brigadier General Anthony McAuliffe rebuffed a German demand to surrender with the famed reply Nuts! As the Germans were attacking at Bastogne, Field Marshal Bernard Montgomery was shifting forces to hold the Germans at the Meuse. With Allied resistance increasing, clearing weather allowing Allied fighter-bombers to enter the battle, and dwindling fuel supplies, the German offensive began to sputter, and the farthest advance was halted 10 miles short of the Meuse on December 24. With Allied counter attacks increasing, and lacking fuel and ammunition, von Manteuffel asked for permission to withdraw on December 24. This was flatly denied by Hitler. Having completed their turn north, Pattons men broke through to Bastogne on December 26. Ordering Patton to press north in early January, Eisenhower directed Montgomery to attack south with the goal of meeting at Houffalize and trapping German forces. While these attacks were successful, delays on Montgomerys part allowed many of the Germans to escape, though they were forced to abandon their equipment and vehicles. In an effort to keep the campaign going, a major offensive was launched by the Luftwaffe on January 1, while a second German ground offensive began in Alsace. Falling back the Moder River, the U.S. 7th Army was able to contain and halt this attack. By January 25, German offensive operations ceased.

The Awareness of Alzheimer’s Disease and the Effect it has...

Alzheimer Disease is a disease in which the brain degenerates. Many people throughout the whole entire world are affected by this disease. The brain degenerates, and people begin to have trouble remembering things. The brain degeneration progresses over the duration of the disease until the diagnosed individual cannot function without help. Alzheimer is the most common form of dementia, and about 60 to 80 percent of all Dementia cases are Alzheimer’s disease. In compliance with this statistic, this means that Alzheimer’s is commonly used interchangeably with Dementia. However, there are many types of different Dementias, but Alzheimer’s is the most well recollected type of the disease. (Lu, 2) Lu give a great definition as to what†¦show more content†¦Patricia Callone states in her book, Alzheimers disease: The Dignity Within: a Handbook for Caregivers, Family, and Friends, â€Å"It seems to me that one of the most important tasks confronting a caregiver is to find information about the disease and how it affects the person physically and mentally. When caregivers, family members, and friends have accurate information, they can be the best possible caregivers (Callone, 1).† Action needs to take place in order to increase Alzheimer awareness, because an increase in the awareness of Alzheimer’s disease would benefit the world. This disease is not understood by many people. There are cases in which the families of an Alzheimer patient does not know, to an extent, what exactly happens during the duration of the Alzheimer disease. An increased awareness would help prevent this type of ignorance. Also, awareness would help increase the funding that the general public provides. Alzheimer awareness was very prominent a few years back, and there was a lot of big discoveries made within this period (Major Milestones in Alzheimer’s and Brain Research†). Alzheimer’s disease has come a very long ways since it was first discovered in 1906 (Barak). Many advances have been made as a result of the previous awareness. We need this type of awareness again; we need the support of the public. There is a vast need for this type ofShow MoreRelatedThe Disease Of Alzheimer s Disease1677 Words   |  7 Pagesone thing Alzheimer s cannot take away, and that is love. Love is not a memory - it s a feeling that resides in your heart and soul.† (Fade to Blank). 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By better understanding the disease with information that we already have, it will help further assist alongsideRead MoreAlzheimer s Disease Is The Most Common Type Of Dementia1498 Words   |  6 Pages1. Alzheimer’s Disease a. Alzheimer’s disease is the most common type of dementia b. Dementia is a term used to describe the disorders that affect the brain such as in memory loss. c. Alzheimer’s is a neurodegenerative brain disorder causing progressive memory loss and destroys thinking skills. d. First discovered by Alois Alzheimer (a German physician) who first discovered the disease in 1906. (Alzheimer’s and Dementia) e. First discovered, while Alois was preforming an autopsy on a woman whoRead MoreAlzheimer s Disease And Its Effects932 Words   |  4 PagesAlzheimer’s disease Alzheimer’s disease is a mental disorder that catches up to many while in middle or old age, due to generalized degeneration of the brain. It is the most common cause of premature senility. What causes this disease? 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The Lost Duke of Wyndham Chapter Ten Free Essays

string(101) " last irritated look in his direction, then turned to Grace to continue their previous conversation\." Jack’s usual response when delivered unpleasant tidings was to smile. This was his response to pleasant news as well, of course, but anyone could grin when offered a compliment. It took talent to curve one’s lips in an upward direction when ordered, say, to clean out a chamber pot or risk one’s life by sneaking behind enemy lines to determine troop numbers. We will write a custom essay sample on The Lost Duke of Wyndham Chapter Ten or any similar topic only for you Order Now But he generally managed it. Excrement†¦moving defenseless among the French†¦he always reacted with a dry quip and a lazy smile. This was not something he’d had to cultivate. Indeed, the midwife who’d brought him into the world swore to her dying day that he was the only baby she’d ever seen who emerged from his mother’s womb smiling. He disliked conflict. He always had, which had made his chosen professions – the military, followed by genteel crime – somewhat interesting. But firing a weapon at a nameless frog or lifting a necklace from the neck of an overfed aristocrat – this was not conflict. Conflict – to Jack – was personal. It was a lover’s betrayal, a friend’s insult. It was two brothers vying for their father’s approval, a poor relation forced to swallow her pride. It involved a sneer, or a shrill voice, and it left a body wondering if he’d offended someone. Or disappointed another. He had found, with a near one hundred percent success rate, that a grin and a jaunty remark could defuse almost any situation. Or change any topic. Which meant that he very rarely had to discuss matters that were not of his choosing. Nonetheless, this time, when faced with the dowager and her unexpected (although, really, he should have expected it) announcement, all he could do was stare at her and say, â€Å"I beg your pardon?† â€Å"We must go to Ireland,† she said again, in that obey-me tone he expected she had been born with. â€Å"There is no way we shall get to the bottom of the matter without visiting the site of the marriage. I assume Irish churches keep records?† Good God, did she think all of them were illiterate? Jack forced down a bit of bile and said quite tightly, â€Å"Indeed.† â€Å"Good.† The dowager turned back to her breakfast, the matter good and settled in her mind. â€Å"We shall find whoever performed the ceremony and obtain the register. It is the only way.† Jack felt his fingers bending and flexing beneath the table. It felt as if his blood were going to burst through his skin. â€Å"Wouldn’t you prefer to send someone in your stead?† he inquired. The dowager regarded him as she might an idiot. â€Å"Who could I possibly trust with a matter of such importance? No, it must be me. And you, of course, and Wyndham, since I expect he will want to see whatever proof we locate as well.† The usual Jack would never have let such a comment pass without his own, exceedingly ironic, One would think, but this current Jack – the one who was desperately trying to figure out how he might travel to Ireland without being seen by his aunt, uncle, or any of his cousins – actually bit his lip. â€Å"Mr. Audley?† Grace said quietly. He didn’t look at her. He refused to look at her. She’d see far more in his face than the dowager ever would. â€Å"Of course,† he said briskly. â€Å"Of course we must go.† Because really, what else could he say? Terribly sorry, but I can’t go to Ireland, as I killed my cousin? Jack had been out of society for a number of years, but he was fairly certain this would not be considered good breakfast table conversation. And yes, he knew that he had not pulled a trigger, and yes, he knew that he had not forced Arthur to buy a commission and enter the army along with him, and yes – and this was the worst of it – he knew that his aunt would never even dream of blaming him for Arthur’s death. But he had known Arthur. And more importantly, Arthur had known him. Better than anyone. He’d known his every strength – and his every weakness – and when Jack had finally closed the door on his disastrous university career and headed off to the military, Arthur had refused to allow him to go alone. And they both knew why. â€Å"It might be somewhat ambitious to try to depart tomorrow,† Grace said. â€Å"You will have to secure passage, and – â€Å" â€Å"Bah!† was the dowager’s response. â€Å"Wyndham’s secretary can manage it. It’s about time he earned his wages. And if not tomorrow, then the next day.† â€Å"Will you wish for me to accompany you?† Grace asked quietly. Jack was just about to interject that, damn yes, she’d be going, or else he would not, but the dowager gave her a haughty look and replied, â€Å"Of course. You do not think I would make such a journey without a companion? I cannot bring maids – the gossip, you know – and so I will need someone to help me dress.† â€Å"You know that I am not very good with hair,† Grace pointed out, and to Jack’s horror, he laughed. It was just a short little burst of it, tinged with a loathsome nervous edge, but it was enough for both ladies to stop their conversation, and their meal, and turn to him. Oh. Brilliant. How was he to explain this? Don’t mind me, I was simply laughing at the ludicrousness of it all. You with your hair, me with my dead cousin. â€Å"Do you find my hair amusing?† the dowager asked sharply. And Jack, because he had absolutely nothing to lose, just shrugged and said, â€Å"A bit.† The dowager let out an indignant huff, and Grace positively glared at him. â€Å"Women’s hair always amuses me,† he clarified. â€Å"So much work, when all anyone really wants is to see it down.† They both seemed to relax a bit. His comment may have been risque, but it took the personal edge off the insult. The dowager tossed one last irritated look in his direction, then turned to Grace to continue their previous conversation. You read "The Lost Duke of Wyndham Chapter Ten" in category "Essay examples" â€Å"You may spend the morning with Maria,† she directed. â€Å"She will show you what to do. It can’t be that difficult. Pull one of the scullery maids up from the kitchen and practice upon her. She’ll be grateful for the opportunity, I’m sure.† Grace looked not at all enthused, but she nodded and murmured, â€Å"Of course.† â€Å"See to it that the kitchen work does not suffer,† the dowager said, finishing the last of her stewed apples. â€Å"An elegant coiffure is compensation enough.† â€Å"For what?† Jack asked. The dowager turned to him, her nose somehow looking pointier than usual. â€Å"Compensation for what?† he restated, since he felt like being contrary. The dowager stared at him a moment longer, then must have decided he was best ignored, because she turned back to Grace. â€Å"You may commence packing my things once you are done with Maria. And after that, see to it that a suitable story is set about for our absence.† She waved her hand in the air as if it were a trifle. â€Å"A hunting cottage in Scotland will do nicely. The Borders, I should think. No one will believe it if you say I went to the Highlands.† Grace nodded silently. â€Å"Somewhere off the well-trod path, however,† the dowager continued, looking as if she were enjoying herself. â€Å"The last thing I need is for one of my friends to attempt to see me.† â€Å"Do you have many friends?† Jack asked, his tone so perfectly polite that she’d be wondering all day if she’d been insulted. â€Å"The dowager is much admired,† Grace said quickly, perfect little companion that she was. Jack decided not to comment. â€Å"Have you ever been to Ireland?† Grace asked the dowager. But Jack caught the angry look she shot him before turning to her employer. â€Å"Of course not.† The dowager’s face pinched. â€Å"Why on earth would I have done so?† â€Å"It is said to have a soothing effect on one’s temperament,† Jack said. â€Å"Thus far,† the dowager retorted, â€Å"I am not much impressed with its influences upon one’s manners.† He smiled. â€Å"You find me impolite?† â€Å"I find you impertinent.† Jack turned to Grace with a sad sigh. â€Å"And here I thought I was meant to be the prodigal grandson, able to do no wrong.† â€Å"Everyone does wrong,† the dowager said sharply. â€Å"The question is how little wrong one does.† â€Å"I would think,† Jack said quietly, â€Å"that it is more important what one does to rectify the wrong.† â€Å"Or perhaps,† the dowager snapped angrily, â€Å"one could manage not to make the mistake in the first place.† Jack leaned forward, interested now. â€Å"What did my father do that was so very very wrong?† â€Å"He died,† she said, and her voice was so bitter and full of chill that Jack heard Grace suck in her breath from across the table. â€Å"Surely you cannot blame him for that,† Jack murmured. â€Å"A freak storm, a leaky boat†¦Ã¢â‚¬  â€Å"He should never have stayed so long in Ireland,† the dowager hissed. â€Å"He should never have gone in the first place. He was needed here.† â€Å"By you,† Jack said softly. The dowager’s face lost some of its usual stiffness, and for a moment he thought he saw her eyes grow moist. But whatever emotion came over her, it was swiftly tamped down, and she stabbed at her bacon and bit off, â€Å"He was needed here. By all of us.† Grace suddenly stood. â€Å"I will go find Maria now, your grace, if that is amenable.† Jack rose along with her. There was no way she was leaving him alone with the dowager. â€Å"I believe you promised me a tour of the castle,† he murmured. Grace looked from the dowager to him and back again. Finally the dowager flicked her hand in the air and said, â€Å"Oh, take him about. He should see his birthright before we leave. You may have your session with Maria later. I will remain and await Wyndham.† But as they reached the doorway, they heard her add softly, â€Å"If that is indeed still his name.† Grace was too angry to wait politely outside the doorway, and indeed, she was already halfway down the hall before Mr. Audley caught up with her. â€Å"Is this a tour or a race?† he asked, his lips forming that now familiar smile. But this time it did nothing but raise her ire. â€Å"Why did you bait her?† she burst out. â€Å"Why would you do such a thing?† â€Å"The comment about her hair, do you mean?† he asked, and he gave her one of those annoying innocent whatever-could-I-have-done-wrong looks. When of course he had to have known, perfectly well. â€Å"Everything,† she replied hotly. â€Å"We were having a perfectly lovely breakfast, and then you – â€Å" â€Å"You might have been having a perfectly lovely breakfast,† he cut in, and his voice held a newly sharp edge. â€Å"I was conversing with Medusa.† â€Å"Yes, but you didn’t have to make things worse by provoking her.† â€Å"Isn’t that what his holiness does?† Grace stared at him in angry confusion. â€Å"What are you talking about?† â€Å"Sorry.† He shrugged. â€Å"The duke. I’ve not noticed that he holds his tongue in her presence. I thought to emulate.† â€Å"Mr. Aud – â€Å" â€Å"Ah, but I misspoke. He’s not holy, is he? Merely perfect.† She could do nothing but stare. What had Thomas done to earn such contempt? By all rights Thomas should be the one in a blackened mood. He probably was, to be fair, but at least he’d taken himself off to be furious elsewhere. â€Å"His grace, it is, isn’t it?† Mr. Audley continued, his voice losing none of his derision. â€Å"I’m not so uneducated that I don’t know the correct forms of address.† â€Å"I never said you were. Neither, I might add, did the dowager.† Grace let out an irritated exhale. â€Å"She shall be difficult all day now.† â€Å"She isn’t normally difficult?† Good heavens, she wanted to hit him. Of course the dowager was normally difficult. He knew that. What could he possibly have to gain by remarking upon it other than the enhancement of his oh so dry and wry persona? â€Å"She shall be worse,† she ground out. â€Å"And I shall be the one to pay for it.† â€Å"My apologies, then,† he said, and he offered a contrite bow. Grace felt suddenly uncomfortable. Not because she thought he was mocking her, but rather because she was quite sure he was not. â€Å"It was nothing,† she mumbled. â€Å"It is not your place to worry over my situation.† â€Å"Does Wyndham?† Grace looked up at him, somehow captured by the directness of his gaze. â€Å"No,† she said softly. â€Å"Yes, he does, but no†¦Ã¢â‚¬  No, he didn’t. Thomas did look out for her, and had, on more than one occasion, interceded when he felt she was being treated unfairly, but he never held his tongue with his grandmother just to keep the peace. And Grace would never dream of asking him to. Or scold him for not doing so. He was the duke. She could not speak to him that way, no matter their friendship. But Mr. Audley was†¦ She closed her eyes for a moment, turning away so he could not see the turmoil on her face. He was just Mr. Audley for now, not so very far above her. But the dowager’s voice, soft and menacing, still rang in her ears – If that is indeed still his name. She was speaking of Thomas, of course. But the counterpart was true as well. If Thomas was not Wyndham, then Mr. Audley was. And this man†¦this man who had kissed her twice and made her dream of something beyond the walls of this castle – he would be this castle. The dukedom wasn’t just a few words appended to the end of one’s name. It was lands, it was money, it was the very history of England placed upon one man’s shoulders. And if there was one thing she had learned during her five years at Belgrave, it was that the aristocracy were different from the rest of humanity. They were mortals, true, and they bled and cried just like everyone else, but they carried within them something that set them apart. It didn’t make them better. No matter the dowager’s lectures on the subject, Grace would never believe that. But they were different. And they were shaped by the knowledge of their history and their roles. If Mr. Audley’s birth had been legitimate, then he was the Duke of Wyndham, and she was an overreaching spinster for even dreaming of his face. Grace took a deep, restorative breath, and then, once her nerves were sufficiently calmed, turned back to him. â€Å"Which part of the castle would you like to see, Mr. Audley?† He must have recognized that this was not the time to press her, and so he answered cheerfully, â€Å"Why, all of it, of course, but I imagine that is not feasible for a single morning. Where do you suggest we begin?† â€Å"The gallery?† He had been so interested in the paintings in his room the night before. It seemed a logical place to start. â€Å"And gaze upon the friendly faces of my supposed ancestors?† His nostrils flared, and for a moment he almost looked as if he’d swallowed something distasteful. â€Å"I think not. I’ve had enough of my ancestors for one morning, thank you very much.† â€Å"These are dead ancestors,† Grace murmured, hardly able to believe her cheek. â€Å"Which is how I prefer them, but not this morning.† She glanced across the hall to where she could see sunlight dappling in through a window. â€Å"I could show you the gardens.† â€Å"I’m not dressed for it.† â€Å"The conservatory?† He tapped his ear. â€Å"Made of tin, I’m afraid.† She pressed her lips together, waited a moment, then said, â€Å"Do you have any location in mind?† â€Å"Many,† he answered promptly, â€Å"but they’d leave your reputation in tatters.† â€Å"Mr. Au – â€Å" â€Å"Jack,† he reminded her, and somehow there was less space between them. â€Å"You called me Jack last night.† Grace did not move, despite the fact that her heels were itching to scoot backwards. He was not close enough to kiss her, not even close enough to accidentally brush his hand against her arm. But her lungs felt suddenly devoid of air, and her heart had begun to race, beating erratically in her chest. She could feel it forming on her tongue – Jack. But she could not say it. Not in this moment, with the image of him as the duke still fresh in her mind. â€Å"Mr. Audley,† she said, and although she tried for sternness, she did not quite manage it. â€Å"I am heartbroken,† he said, and he did it with the exact right note of levity to restore her equilibrium. â€Å"But I shall carry on, painful though it may be.† â€Å"Yes, you look to be in despair,† she murmured. One of his brows rose. â€Å"Do I detect a hint of sarcasm?† â€Å"Just a hint.† â€Å"Good, because I assure you† – he thumped one hand against his heart – â€Å"I am dying on the inside.† She laughed, but she tried to hold it in, so it came out more like a snort. It should have been embarrassing; with anyone else it would have been. But he had set her back at ease, and instead she felt herself smile. She wondered if he realized what a talent it was – to return any conversation to a smile. â€Å"Come with me, Mr. Audley,† she said, motioning for him to accompany her down the hall. â€Å"I shall show you my very favorite room.† â€Å"Are there cupids?† She blinked. â€Å"I beg your pardon?† â€Å"I was attacked by cupids this morning,† he said with a shrug, as if such a thing were a common day occurrence. â€Å"In my dressing room.† And again she smiled, this time even more broadly. â€Å"Ah. I’d forgotten. It’s a bit much, isn’t it?† â€Å"Unless one is partial to naked babies.† Again her laughter snorted out. â€Å"Something in your throat?† he asked innocently. She answered him with a dry look, then said, â€Å"I believe the dressing room was decorated by the present duke’s great-grandmother.† â€Å"Yes, I’d assumed it wasn’t the dowager,† he said cheerfully. â€Å"She doesn’t seem the sort for cherubs of any stripe.† The image that brought forth was enough to make her laugh aloud. â€Å"Finally,† he said, and at her curious look, added, â€Å"I thought you were going to choke on it earlier.† â€Å"You seem to have regained your good mood as well,† she pointed out. â€Å"It requires only the removal of my presence from her presence.† â€Å"But you only just met the dowager yesterday. Surely you’ve had a disagreeable moment before that.† He flashed her a broad grin. â€Å"Happy since the day I was born.† â€Å"Oh, come now, Mr. Audley.† â€Å"I never admit to my black moods.† She raised her brows. â€Å"You merely experience them?† He chuckled at that. â€Å"Indeed.† They walked companionably toward the rear of the house, Mr. Audley occasionally pressing her for information of their destination. â€Å"I shan’t tell you,† Grace said, trying to ignore the giddy sense of anticipation that had begun to slide through her. â€Å"It sounds like nothing special in words.† â€Å"Just another drawing room, eh?† To anyone else, perhaps, but for her it was magical. â€Å"How many are there, by the way?† he asked. She paused, trying to count. â€Å"I am not certain. The dowager is partial to only three, so we rarely use the others.† â€Å"Dusty and molding?† She smiled. â€Å"Cleaned every day.† â€Å"Of course.† He looked about him, and it occurred to her that he did not seem cowed by the grandeur of his surroundings, just†¦amused. No, not amused. It was more of a wry disbelief, as if he were still wondering if he could trade this all in and get himself kidnapped by a different dowager duchess. Perhaps one with a smaller castle. â€Å"Penny for your thoughts, Miss Eversleigh,† he said. â€Å"Although I’m sure they are worth a pound.† â€Å"More than that,† she said over her shoulder. His mood was infectious, and she felt like a coquette. It was unfamiliar. Unfamiliar and lovely. He held up his hands in surrender. â€Å"Too steep a price, I’m afraid. I am but an impoverished highwayman.† She cocked her head. â€Å"Wouldn’t that make you an unsuccessful highwayman?† â€Å"Touche,† he acknowledged, â€Å"but alas, untrue. I have had a most lucrative career. The life of a thief suits my talents perfectly.† â€Å"Your talents are for pointing guns and removing necklaces off ladies’ necks?† â€Å"I charm the necklaces off their necks.† He shook his head in a perfect imitation of offense. â€Å"Kindly make the distinction.† â€Å"Oh, please.† â€Å"I charmed you.† She was all indignation. â€Å"You did not.† He reached out, and before she could step away, he’d grasped her hand and raised it to his lips. â€Å"Recall the night in question, Miss Eversleigh. The moonlight, the soft wind.† â€Å"There was no wind.† â€Å"You’re spoiling my memory,† he growled. â€Å"There was no wind,† she stated. â€Å"You are romanticizing the encounter.† â€Å"Can you blame me?† he returned, smiling at her wickedly. â€Å"I never know who is going to step through the carriage door. Most of the time I get a wheezy old badger.† Grace’s initial inclination was to ask him if badger referred to a man or a woman, but she decided this would only encourage him. Plus, he was still holding her hand, his thumb idly stroking her palm, and she was finding that such intimacies severely restricted her talents for witty repartee. â€Å"Where are you taking me, Miss Eversleigh?† His voice was a murmur, brushing softly against her skin. He was kissing her again, and her entire arm shivered with the excitement of it. â€Å"It is just around the corner,† she whispered. Because her voice seemed to have abandoned her. It was all she could do to breathe. He straightened then, but did not release her hand. â€Å"Lead on, Miss Eversleigh.† She did, tugging him gently as she moved toward her destination. To everyone else, it was just a drawing room, decorated in shades of cream and gold, with the occasional accent of the palest, mintiest of greens. But Grace’s dowager-inflicted schedule had given her cause to enter in the morning, when the eastern sun still hung low on the horizon. The air shimmered in the early morning, somehow golden with the light, and when it streamed through the windows in this far-flung, unnamed drawing room, the world somehow sparkled. By midmorning it would be just an expensively decorated room, but now, while the larks were still chirping softly outside, it was magic. If he didn’t see that†¦ Well, she did not know what it would mean if he did not see that. But it would be disappointing. It was a small thing, meaningless to anyone but her, and yet†¦ She wanted him to see it. The simple magic of the morning light. The beauty and grace in the one room at Belgrave that she could almost imagine was hers. â€Å"Here we are,† she said, a little breathless with the anticipation. The door was open, and as they approached, she could see the light slanting out, landing gently on the smooth surface of the floor. There was such a golden hue to it, she could see every speck of dust that hung floating in the air. â€Å"Is there a private choir?† he teased. â€Å"A fantastical menagerie?† â€Å"Nothing so ordinary,† she replied. â€Å"But close your eyes. You should see it all at once.† He took her hands and, still facing her, placed them over his eyes. It brought her achingly close to him, her arms stretched up, the bodice of her dress just a whisper away from his finely tailored coat. It would be so easy to lean forward, to sigh into him. She could let her hands drop and close her own eyes, tilting her face toward his. He would kiss her, and she would lose her breath, her will, her very desire to, in that moment, be only herself. She wanted to melt into him. She wanted to be a part of him. And the strangest part was – right there, right then, with the golden light rippling down upon them – it seemed the most natural thing in the world. But his eyes were closed, and for him, one little piece of the magic was missing. It had to have been, because if he had felt everything that was floating around her – through her – he never would have said, his voice utterly charming – â€Å"Are we there yet?† â€Å"Almost,† she said. She should have been grateful that the moment was broken. She should have been relieved that she did not do something she was sure to regret. But she wasn’t. She wanted her regrets. She wanted them desperately. She wanted to do something she knew she should not, and she wanted to lie in bed at night letting the memory keep her warm. But she was not brave enough to initiate her own downfall. Instead, she led him to the open doorway and said softly, â€Å"Here we are.† How to cite The Lost Duke of Wyndham Chapter Ten, Essay examples

Network Security Using Bluetooth Essay Sample free essay sample

Abstraction Bluetooth is a wireless protocol using short-range communications engineering easing informations transmittals over short distances from fixed and/or nomadic devices. making wireless PANs. Bluetooth provides a manner to link and interchange information between devices such as nomadic phones. telephones. laptops. personal computing machines. pressmans. GPS receiving systems. digital cameras. So the security of the Bluetooth becomes really of import. We have different types of security for Bluetooth to protect the information over the transmittal Here we discuss some of the Bluetooth security method. Authentication-A end of Bluetooth is the individuality confirmation of pass oning devices. This security service addresses the inquiry â€Å"Do I know with whom I’m pass oning? † This service provides an abort mechanism if a device can non authenticate decently Confidentiality-Confidentiality. or privateness. is another security end of Bluetooth. The purpose is to forestall information via media caused by listen ining ( inactive onslaught ) . This service. in general. We will write a custom essay sample on Network Security Using Bluetooth Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page addresses the inquiry â€Å"Are merely authorised devices allowed to see my informations? † Authorization-One another end of Bluetooth is a security service developed to let the control of resources. This service addresses the inquiry â€Å"Has this device been authorized to utilize this service? † GlossaryPAN – PERSONAL AREA NETWORKSLFSR – LINEAR FEEDBACK SHIFT REGISTERKG – KEY GENERATORFHSS – FREQUENCY-HOPPING SPREAD- SPECTRUML2CAP – LOGICAL LINK CONTROL AND ADAPTATION PROTOCOL Bluetooth Overview Ad hoc webs today are based chiefly on Bluetooth engineering. Bluetooth is an unfastened criterion for short-range digital wireless. It is touted as a low-priced. low-power. and low-profile engineering that provide a mechanism for making little radio webs on an ad hoc footing. Bluetooth is considered a radio PAN engineering that offers fast and dependable transmittal for both voice and informations. Untethered Bluetooth devices will extinguish the demand for overseas telegrams and supply a span to bing webs. Bluetooth can be used to link about any device to any other device. An illustration is the connexion between a PDA and a nomadic phone. The end of Bluetooth is to link disparate devices ( PDAs. cell phones. pressmans. facsimiles. etc. ) together wirelessly in a little environment such as an office or place. Harmonizing to the taking advocates of the engineering. Bluetooth is a criterion that will finally Extinguish wires and overseas telegrams between both stationary and nomadic devices †¢ Eliminate wires and overseas telegrams between both stationary and nomadic devices †¢ Facilitate both informations and voice communications †¢ Offer the possibility of ad hoc webs and present synchronism between personal devices. Bluetooth is designed to run in the unaccredited ISM ( industrial. scientific. medical applications ) band that is available in most parts of the universe. with fluctuation in some locations. Bluetooth-enabled devices will automatically turn up each other. but doing connexions with other devices and organizing webs requires user action. Frequency and Data Ratess The interior decorators of Bluetooth like those of the 802. 11 WLAN criterion designed Bluetooth to run in the unaccredited 2. 4 GHz–2. 4835 GHz ISM frequence set. Because legion other engineerings besides operate in this set. Bluetooth uses a frequency-hopping spread-spectrum ( FHSS ) engineering to work out intervention jobs. OPERATING RANGE OF BLUETOOTH The FHSS strategy uses 79 different wireless channels by altering frequence about 1. 600 times per second. One channel is used in 625 microseconds followed by a hop in a pseudo-random order to another channel for another 625 microsecond transmittal ; this procedure is repeated continuously. As stated antecedently. the ISM set has become popular for radio communications because it is available worldwide and does non necessitate a licence. In the ISM set. Bluetooth engineering permits transmittal velocities of up to 1 Mbps and achieves a throughput of about 720 kbps. Although the information rates are low compared to those of 802. 11 wireless LANs. it is still three to eight times the mean velocity of analogue and consecutive ports. severally. This rate is adequately fast for many of the applications for which Bluetooth was conceived. Furthermore. it is anticipated that even faster information rates will be available in the hereafter. Security of Bluetooth This subdivision helps the reader to understand the constitutional security characteristics of Bluetooth. It provides an overview of the built-in security characteristics to better exemplify its restrictions and supply a motive for some of the recommendations for enhanced security. Security for the Bluetooth wireless way is depicted in the undermentioned figure. [ pic ] As shown in the illustration. security for Bluetooth is provided on the assorted wireless links on the wireless paths merely. In other words. associate hallmark and encoding may be provided. but true end-to-end security is non possible without supplying higher layer security solutions on top of Bluetooth. In the illustration provided. security services are provided between the PDA and the pressman. between the cell phone and laptop. and between the laptop and the desktop. Briefly. the three basic security services defined by the Bluetooth specifications are the undermentioned: Security Features of Bluetooth per the Specifications Bluetooth has three different manners of security. Each Bluetooth device can run in one manner merely at a peculiar clip. The three manners are the undermentioned:†¢ Security Mode 1-Nonsecure manner†¢ Security Mode 2-Service-level implemented security manner †¢ Security Mode 3-Link-level implemented security manner [ movie ] BLUE TOOTH SECURITY MODES In Security Mode 1. a device will non originate any security processs. In this non-secure manner. the security functionality ( hallmark and encoding ) is wholly bypassed. In consequence. the Bluetooth device in Mode 1 is in a â€Å"promiscuous† manner that allows other Bluetooth devices to link to it. This manner is provided for applications for which security is non required. such as interchanging concern cards. In Security Mode 2. the service-level security manner. security processs are initiated after channel constitution at the Logical Link Control and Adaptation Protocol ( L2CAP ) degree. L2CAP resides in the informations link bed and provides connection-oriented and connectionless informations services to upper beds. For this security manner. a security director ( as specified in the Bluetooth architecture ) controls entree to services and to devices. The centralised security director maintains constabularies for entree control and interfaces with other protocols and device users. Changing security constabularies and â€Å"trust† degrees to curtail entree may be defined for applications with different security demands runing in analogue. It is possible to allow entree to some services without supplying entree to other services. Obviously. in this manner. the impression of authorization-that is the procedure of make up ones minding if device A is allowed to hold entree to serve X-is introduced. In Security Mode 3. the link-level security manner. a Bluetooth device novices security processs before the channel is established. This is a constitutional security mechanism. and it is non cognizant of any application bed security that may be. This manner supports hallmark ( unidirectional or common ) and encoding. These characteristics are based on a secret nexus key that is shared by a brace of devices. To bring forth this key. a pairing process is used when the two devices communicate for the first clip. Link Key Generation—Bluetooth Bonding The nexus key is generated during an low-level formatting stage. while two Bluetooth devices that are pass oning are â€Å"associated† or â€Å"bonded. † Per the Bluetooth specification. two associated devices at the same time derive nexus keys during the low-level formatting stage when a user enters an indistinguishable PIN into both devices. 1. Combination – pairwise key2. Unit – unit – specific key3. Initialization – used during low-level formatting merely4. Maestro – used for broadcast The PIN entry. device association. and cardinal derivation are depicted conceptually. After low-level formatting is complete. devices automatically and transparently authenticate and perform encoding of the nexus. It is possible to make a nexus key utilizing higher bed cardinal exchange methods and so import the nexus key into the Bluetooth faculties. The PIN codification used in Bluetooth devices can change between 1 and 16 bytes. The typical 4-digit PIN may be sufficient for some applications ; nevertheless. longer codifications may be necessary. Authentication The Bluetooth hallmark process is in the signifier of a â€Å"challenge-response† strategy. Two devices Interacting in an hallmark process is referred to as the claimant and the voucher. The voucher is the Bluetooth device formalizing the individuality of another device. The claimant is the device trying to turn out its individuality. The challenge-response protocol validates devices by verifying the cognition of a secret key-a Bluetooth nexus key. The challenge-response confirmation strategy is depicted conceptually is given in figure. As shown. one of the Bluetooth devices ( the claimant ) attempts to make and link to the other ( the voucher ) . The stairss in the hallmark procedure are the undermentioned: Measure 1: The claimant transmits its 48-bit reference ( BD_ADDR ) to the voucher. Measure 2: The voucher transmits a 128-bit random challenge ( AU_RAND ) to the claimant. Algorithm to calculate an hallmark response utilizing the Measure 3: The voucher uses the E1 reference. nexus key. and random challenge as inputs. The claimant performs the same calculation. Measure 4: The claimant returns the computed response. SRES. to the voucher. Measure 5: The voucher compares the SRES from the claimant with the SRES that it computes. Step 6: If the two 32-bit SRES values are equal. the voucher will go on connexion constitution. [ pic ] If hallmark fails. a Bluetooth device will wait an interval of clip before a new effort can be made. This clip interval will increase exponentially to forestall an antagonist from repeated efforts to derive entree by get the better ofing the hallmark strategy through trial-and-error with different keys. However. it is of import to observe that this â€Å"suspend† technique does non supply security against sophisticated antagonists executing offline onslaughts to thoroughly seek PINs. Again. the Bluetooth criterion allows both uni- directional and common hallmark to be performed. The hallmark map used for the proof is based on the SAFER+ algorithm. E1 the Bluetooth reference is a public parametric quantity that is alone to each device. This reference can be obtained through a device enquiry procedure. The private key. or associate cardinal. is a secret entity. The nexus key is derived during low-level formatting. is neer disclosed outside the Bluetooth device. and is neer transmitted over the air-interface. The random challenge. evidently a public parametric quantity. is designed to be different on every dealing. The random figure is derived from a pseudo-random procedure within the Bluetooth device. The cryptanalytic response is public every bit good. With cognition of the challenge and response parametric quantities. it should be impossible to foretell the following challenge or deduce the nexus key. | | |SECRECY CHARACTERISTIC | |PARAMETER |LENGTH | | |Device Address |48 bits |Public | | | |Public. Unpredictable | |Random challenge |128 bits | | |Authentication response | | | | |32 bits |Public | |Link cardinal |128 spots |Secret | AUTHENTICATION PARAMETER TABLE Confidentiality In add-on to the hallmark strategy. Bluetooth provides for a confidentiality security service to queer listen ining efforts on the air-interface. Bluetooth encoding is provided to protect the warheads of the packages exchanged between two Bluetooth devices. The encoding strategy for this service is depicted conceptually in Figure. As shown in Figure the Bluetooth encoding process is based on a watercourse cypher. E0 end product is exclusive-OR-ed with the warhead spots and sent to the receiving device. This cardinal watercourse is produced utilizing a cryptanalytic algorithm based on additive feedback displacement registries ( LFSR ) . The encrypt map takes as inputs the maestro individuality ( BD_ADDR ) . the random figure ( EN_RAND ) . a slot figure. and an encoding key. which initialize the LFSRs before the transmittal of each package. if encoding is enabled. Since the slot figure used in the watercourse cypher alterations with each package. the coding engine is besides reinitialized with each package although the other variables remain inactive. In below figure the encoding key provided to the encoding algorithm is produced utilizing an internal key generator ( KG ) . This cardinal generator produces watercourse cypher keys based on the nexus key. random figure ( EN_RAND once more ) . and the ACO value. The ACO parametric quantity. a 96-bit attested cypher beginning. is another end product produced during the hallmark process shown in Bluetooth hallmark figure. As mentioned above. the nexus key is the 128-bit secret key that is held in the Bluetooth devices and is non accessible to the user. Furthermore. this critical security component is neer transmitted outside the Bluetooth device. The encoding key ( KC ) is generated from the current nexus key. The cardinal size may change from 8 spots to 128 spots and is negotiated. The dialogue procedure occurs between maestro devices and slave devices. During dialogue. a maestro device makes a cardinal size suggestion for the slave. In every application. a â€Å"minimum acceptable† cardinal size parametric quantity can be set to forestall a malicious user from driving the key size down to the lower limit of 8 spots. doing the nexus wholly insecure. The Bluetooth specification besides allows three different encoding manners to back up the confidentiality service: †¢ Encryption Mode 1-No encoding is performed on any traffic. †¢ Encryption Mode 2-Broadcast traffic goes unprotected ( non encrypted ) . but separately addressed traffic is encrypted harmonizing to the single nexus keys. †¢ Encryption Mode 3-All traffic is encrypted harmonizing to the maestro nexus key. Mandate In add-on to the three security manners. Bluetooth allows two degrees of trust and three degrees of service security. The two degrees of trust are â€Å"trusted† and â€Å"un-trusted. † Trusted devices are 1s that have a fixed relationship and hence have full entree to all services. Un-trusted devices do non keep a lasting relationship ; this consequences in a restricted service entree. For services. three degrees of security have been defined. These degrees are provided so that the demands for mandate. hallmark. and encoding can be set independently. The security degrees can be described as follows: Service Level 1- Those that requires mandate and hallmark. Automatic entree is granted merely to trusted devices. Un-trusted devices need manual mandate. Service Level 2- Those that require hallmark merely. Access to an application is allowed merely after an hallmark process. Authorization is non necessary. Service Level 3- Those that are unfastened to all devices. Authentication is non required. and entree is granted automatically. Associated with these degrees are the undermentioned security controls to curtail entree to services: mandate required ( this ever includes hallmark ) . hallmark required. and encoding required ( associate must be encrypted before the application can be accessed ) . The Bluetooth architecture allows for specifying security policies that can put trust relationships in such a manner that even trusted devices can acquire entree merely to specific services and non to others. It is of import to understand that Bluetooth nucleus protocols can authenticate lone devices and non users. This is non to state that user-based entree control is non possible. The Bluetooth security architecture ( through the security director ) allows applications to implement their ain security policies. The nexus bed. at which Bluetooth specific security controls operate. is crystalline to the security controls imposed by the application beds. Thus it is possible to implement user-based hallmark and powdered entree control within the Bluetooth security model. Decision Bluetooth offers several benefits and advantages. Specifically. Bluetooth need to turn to security concerns for confidentiality. informations unity. and web handiness. Furthermore. since Bluetooth devices are more likely to be managed by agencies of the above security manners. Mentions: Cryptanalysis: Theory and pattern by D. Stinsown Internet security protocols by Uyless black Network security by Ankit Fadia Cryptography and watermarking-Attack and counter steps by Neil. F. Johnson Web sites: World Wide Web. ifsac. com World Wide Web. cryptanalysis. com World Wide Web. networksecurity. com hypertext transfer protocol: //www. research. att. com/