Shareholders’ equity    90,000

Total               $160,000         Total                           $160,000

On January 1, 2014, Masonite purchased 2,000 (20 percent of the outstanding common shares) shares of Bingo Boots for $40,000 and held the investment throughout 2014 and 2015. During 2014 and 2015, Bingo earned a net income of $15,000 and $20,000, respectively. Bingo paid total dividends of $10,000 and $15,000 during 2014 and 2015. The per-share prices of Bingo common stock as of the end of 2014 and 2015 were $18 and $21, respectively. During 2014 and 2015, Masonite generated revenues (excluding revenues related to the investment in Bingo) of $85,000 and $75,000, respectively, and incurred expenses of $50,000 and $70,000, respectively. Assume that all these revenues and expenses involve cash. Masonite pays no dividends.

REQUIRED:

a. Assume that Masonite exercises its option to use the mark-to-market method.

(1) Prepare a balance sheet as of January 1, 2014.

(2) Prepare a balance sheet as of December 31, 2014, and an income statement for the year ended December 31, 2014.

(3) Prepare a balance sheet as of December 31, 2015, and an income statement for the year ended December 31, 2015.

b. Assume that Masonite uses the equity method.

(1) Prepare a balance sheet as of January 1, 2014.

(2) Prepare a balance sheet as of December 31, 2014, and an income statement for the year ended December 31, 2014.

(3) Prepare a balance sheet as of December 31, 2015, and an income statement for the year ended December 31, 2015.

c. Identify some reasons why the management of Masonite may wish to use the mark-to-market method instead of the equity method. Describe why the equity method might be preferred. Does holding 20 percent of a company’s outstanding common stock necessarily mean that the investor company can exert substantial influence over the investee?

 

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Heterosexism is defined as “the discrimination or prejudice by heterosexuals against homosexuals” (merriam-webster.com) and is predicated on the belief that being heterosexual is the norm and the only accepted type of relationship.

Everyday heterosexism is exemplified in our media, our policies, and daily practices. By making these assumptions, social workers can be in part culpable for the oppression and marginalization experienced by the LGBTQ community.

As a profession, social work embraces diversity and strives to ensure equal rights for all. The National Association of Social Workers (NASW) is committed to supporting the needs of these groups and, in turn, they created the National Committee on Gay, Lesbian, Bisexual and Transgender Issues. During this week’s discussion you will be asked to consider how one’s own personal views on sexual orientation may clash with the profession’s stance.

Post a scenario of how a social worker’s personal, ethical, and moral values in relation to the LGBTQ community might conflict with those of their clients. Explain the distinction between personal ethics and values and professional ethics and values evident in the social work profession in addressing this community. Be specific and explain how this distinction relates to the scenario you posted. Also explain how prejudice and bias might create barriers to fulfilling your professional responsibility to the LGBTQ community.

Reference

Adams, M., Blumenfeld, W. J., Castaneda, C., Hackman, H. W., Peters, M. L., & Zuniga, X. (Eds.). (2013). Readings for diversity and social justice. (3rd ed.). New York, NY: Routledge Press.

• Chapter 77, (pp. 379–387)
• Chapter 78, (pp. 388–391)
• Chapter 79, (pp. 391–397)
• Chapter 83, (pp. 406–411)
• Chapter 84, (pp. 411–420)

Dessel, A. B., Jacobsen, J., Levy, D. L., McCarty-Caplan, D., Lewis, T. O., & Kaplan, L. E. (2017). LGBTQ topics and Christianity in social work: Tackling the tough questions. Social Work & Christianity, 44(1/2), 11-30. Note: Retrieved from Walden Library databases.

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