Paula, fred, and stephanie agree that paula and fred will form and conduct a partnership business and that stephanie will become a partner in two years. stephanie agrees to lend the firm $50,000 and take 10 percent of the profits in lieu of interest. without stephanie’s knowledge, paula and fred tell harold that stephanie is a partner, and harold, relying on stephanie’s sound financial status, gives the firm credit. the firm later becomes insolvent, and harold seeks to hold stephanie liable as a partner. should harold succeed? explain.

Owns a machine that can produce two specialized products. production time for product tlx is two units per hour and for product mtv is four units per hour. the machine’s capacity is 2,100 hours per year. both products are sold to a single customer who has agreed to buy all of the company’s output up to a maximum of 3,570 units of product tlx and 1,610 units of product mtv. selling prices and variable costs per unit to produce the products follow. product tlx product mtv selling price per unit $ 11.50 $ 6.90 variable costs per unit 3.45 4.14 determine the company's most profitable sales mix and the contribution margin that results from that sales mix.