In june, erie plastics had an ending cash balance of $55,000. in july, the firm had total cash receipts of $70,000 and total cash disbursements of $10,000. the minimum cash balance required by the firm is $25,000. at the end of july, erie plastics hada. an excess cash balance of $90,000b. an excess cash balance of $0c. an excess cash balance of $115,000d. required financing of $25,000 e. none of the above

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.