The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: Estimated revenues: Taxes $ 15,200,000 Intergovernmental revenues 950,000 Licenses and permits 420,000 Fines and forfeits 140,000 Miscellaneous revenues 90,000 Total estimated revenues $ 16,800,000 Appropriations: General government $ 8,050,000 Public safety 6,020,000 Public works 1,570,000 Health and welfare 970,000 Miscellaneous 110,000 Total appropriations $ 16,720,000 Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year.

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.