1.Determine whether each of Auto's contracts with Atlantic for Sedan and Luxury Car contains an identified asset.And provide the ASC code.

Sedan contract terms:

o The term is five years.

oMV Manhattan, a ship in Atlantic's fleet, is dedicated to shipping Auto's Sedans for the term of the contract.

oAuto determines (1) which European ports receive shipments and (2) the order in which deliveries are made to the ports; Auto instructs Atlantic accordingly.

oAuto has the option to send the ship below capacity. If the ship is below capacity, Atlantic cannot use the excess capacity to ship products of its other customers.

Luxury Car contract terms:

o The term is five years.

oAtlantic is required to deliver shipments of Luxury Cars within five weeks of notification from Auto that an order of Luxury Cars is ready for shipping.

oAtlantic may choose any ship from its fleet to complete the request.

oAuto may provide 250 to 2,000 Luxury Cars in a single request; however, shipping requests of Luxury Car generally do not exceed 500 vehicles in a single request because of the lower production volume and longer manufacturing time of Luxury Car.

oAtlantic has the option to use excess capacity to ship products of its other customers.

oAfter notification from Auto that Luxury Cars are ready to ship, Atlantic determines when within the five-week period to ship the cars, as well as the shipping route.