You are a business planner and accountant. Gloria has come to you to get some advice on which supplier will best meet her needs and objectives. Prepare a paper that addresses the following. Proposal 1: Richard Franklin He is the CEO of Greenleaf Manufacturing, which is a company located in the same state as Glorias business. He has submitted the following proposal to Gloria Smithson: He will manufacture up to 6,000,000 widgets per year at a cost of $6.37; another 6,000,000 widgets per year at $5.41; and a final 6,000,000 widgets per year at a cost of $5.01 each. However, Greenleafs proposal contains a clause that requires Glorias acceptance by 5:00 p.m. on March 3, 2014. Proposal 2: Jun Chin She is the CEO of Sunrise Ltd. in Quanzhou, China. Her company has recently begun doing business with American companies. Ms. Chin is able to manufacture 100% of the widgets Gloria Smithson needs annually at a cost of $4.01 each. Proposal 3: Mateo Bonilla He operates Groupo Embraco. Groupo Embarco has never done business with an American company, but like Gloria Smithson, he wants to expand his business. Presently, it can supply Gloria with 10,000,000 widgets annually at a cost of $3.83. Bonilla is willing to expand his operations in order to manufacture more widgets. 1.What elements are necessary for a valid contract to exist? Define what constitutes a "valid offer." Evaluate each proposal and discuss whether each of the offers constitutes a valid offer. Why or why not? 2.Each proposal involves a different country. What are the particular concerns for Gloria in doing business in other countries? What contract provisions does she need to include in any business contract in order to protect her business? 3.How can Gloria continue to protect herself and her family from personal liability if she obtains her widgets from a foreign manufacturer? Use your textbook and library references to answer these questions. Evaluate each proposal. Does it constitute an offer? Assignment Requirements 1.Your paper should be four to five pages long, exclusive of the cover page and references page, and it should be double-spaced. It should comply with APA 6th edition formatting a.Cover page b.References page c.12 point, Times New Roman font d.No website references e.Include at least three scholarly references in addition to your textbook f.Include in-text references to sources