Refer to the Ace Electronics annual report above. Using horizontal analysis with 2010 as the base year, 2011 Cost of goods sold would be represented as ________

A well-designed sales training program begins with:

A. The development of a job description for the sales position B. A sales training analysis C. Determining the training objectives D. The establishment of a control group that will not undergo training E. The development of an evaluation system that will monitor the efficiency of each step of the training process

Kinard's Kennels Inc ROE is 20%. Their dividend payout ratio is 70%. The last dividend, just paid,

was $2.00. If dividends are expected to grow by the company's internal growth rate indefinitely, what is the current value of Kinard's common stock if its required return is 18%? A) $14.92 B) $17.67 C) $16.89 D) $11.52