Prepare a classified balance sheet in good form. common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. assume that notes receivable and notes payable are short-term, unless stated otherwise. cost and fair value of debt investments (trading) are the same. (list current assets in order of liquidity. list property, plant and equipment in order of land, building and equipment.)

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.