1. In recent years, Apple has been criticized for having too much excess cash. Why do you think Apple maintained so much in liquid assets?
2. What are some of the options that companies can choose to do with their excess cash? You can even expand beyond what is discussed in this chapter, as previous chapters also provided some viable options for excess cash.
3. Classify the following investments into the following classifications: trading, held-to-maturity, available-for-sale, no significant influence, significant influence, controlling interest (each is used only once)

3a. Grape Ape Inc. owns 74% of Wonder Twins Company.

3b. Reeses Pieces Co. owns 44% of Sprinkles Inc. stock. The two companies are considered affiliated companies.

3c. Mannys Inc. owns a 6% Hayes Corp. 12-year bond that matures in 2030 that it plans to hold for the next 9 months.

3d. Sunflowers Inc. buys 18% of Daisy Corp. stock and cannot influence Daisys decisions.

3e. Newsies Co. has a Pulitzer News Inc. 5% 15-year bond that they plan to sell next month for a profit.

3f. La La Singers owns a Twirly Birds Co. 10% bond that it plans to hold till it matures in 5 years