Everyone thought that Martha Mathy was trying to start a new fashion trend when she started wearing socks that did not match. her "look" started to catch on, and pretty soon all the kids at her school were wearing mixed-up socks, too. Rita Writer, a reporter for the school paper, interviewed Martha about the new sock trend. " Wat gave you the idea to wear mismatched socks?" Rita Asked.

"Its simple mathematics," Martha replied. "you see, I have 18 socks at home but no two are the same. with just these 18 socks, I can create over 100 unique pairs of mismatched socks." Rita found this hard to believe, so she checked it out. Was Martha correct?

Answer:

There are 153 combinations

Combinations - any two from eighteen is given by the formula 18C2 or 18! / (2!*16!)

= 18 * 17 / 2 = 153

OK that is the maths - now the explanation

The first sock can be any of 18

The second sock can be any of 17 (one already been selected and they must be mismatched)

Therefore there are 18*17 = 306 permutations she could make

However the question asks for "combinations" not "permutations"

A green sock on the right foot and a yellow sock on the left foot is deemed to be a different "permutation" to a yellow sock on the right foot and a green sock on the left foot. HOWEVER, they are regarded as the same "combination" in both cases you have one green and one yellow sock.

Therefore for combinations we must divide the 306 permutations calculated above by 2 = 153

FYI Walton has incorrectly given you the value of 18!. That would only apply if Martha Mathy had 18 feet!

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AMPHLETT CORPORATION
Consolidated Balance Sheets
As of Year-End ($ thousands) 2013 2012
Assets
Current
Cash $18,000 $108,000
Marketable securities 240,000 -
Accounts receivable (net) 708,000 528,000
Inventory 720,000 738,000
Total current assets 1,686,000 1,374,000
Noncurrent
Long-term investments 372,000 468,000
Property & equipment 2,160,000 1,320,000
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Property & equipment (net) 1,560,000 720,000
Intangibles (net) 114,000 126,000
Total noncurrent assets 2,046,000 1,314,000
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Liabilities & Shareholders' Equity
Accounts payable $1,080,000 $1,020,000
Short-term bank debt 228,000 -
Total liabilities 1,308,000 1,020,000
Shareholders' equity
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Consolidated Income Statement
For Year Ended ($ thousands)
2013
2012
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Gross margin
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-
Net income before taxes
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792,000
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Net income after taxes
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Long-term investments were sold for $180 million, which included a gain of $84 million.
Required
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Use a negative sign with answers to indicate a decrease in cash.
Amphlett Corporation
Statement of Cash Flows
For Year Ended 2013
(in thousands)
Cash flow From Operations BLANK
Net Income $Answer
Add:
Depression Expense Answer
Amortization expense Answer
Less:
Gain on Sale of Investments Answer
Accounts receivable (net) Answer
Inventory Answer
Accountable Payable Answer
Cash Flow From Operations Answer
Cash Flow for Investing BLANK
Marketable securities Answer
Long-term investments Answer
Purchase of property and equipment Answer
Sale of Property and Equipment Answer
Cash Flow for Investing Answer
Cash From Financing BLANK
Short-term bank debt Answer
Common stock + additional paid in capital Answer
Dividends Paid Answer
Cash From Financing Answer
Decrease in Cash Answer
Cash, beginning of year Answer
Cash, end of year $Answer

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