Martha Washington owns 930 shares in the Harper Company. There are 15 directors to be elected. Thirty-three thousand shares are outstanding. The firm has adopted cumulative voting. a. How many total votes can be cast? b. How many votes does Betsy control? c. What percentage of the total votes does she control?

Mr. Michaels controls proxies for 41,000 of the 75,000 outstanding shares of Northwestern Airlines. Mr. Baker heads a dissident group that controls the remaining 34,000 shares. There are seven board members to be elected and cumulative voting rules apply. Michaels does not understand cumulative voting and plans to cast 100,000 of his 287,000 (41,000 7) votes for his brother-in-law, Scott. His remaining votes will be spread evenly between three other candidates. How many directors can Baker elect if Michaels acts as described in the preceding paragraph? Use logical numerical analysis rather than a set formula to answer the question. Baker has 238,000 votes (34,000 7).

Sleek Styles earned $500 million last year and had a 30 percent payout ratio. How much did the firm add to its retained earnings?