4) John Q. Partner purchased shares of Torchwood Security on the open January 2 at $33.07 per share. He earned a dividend of 30.28 in March. John Q kept his dividend in cash he did not reinvestit Torchwood Security closed at January 532 20 February: 331.76 March 534.26 The total time-weighted rate of return for the calendar quarter is and the holding period return for the calendar quarters 5) A Registration Statement is a preliminary prospectus filed with the SEC awaiting approval 6) One of the major advantages to the firm using a private placement is The investors in the securities never sell them The investors in the securities are more friendly to management The firm can access funds much quicker without having to wait for regulatory approval of a public offering The firm can issue additional securities after the private placement that dilute the holdings of accredited investors