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"Did the Sheridan wedding contract you were working on go out yet?" asked Denise Kaminski, the executive director of the Greater Philadelphia Expo Center operated by the city of Oaks, PA. "Yes, I mailed it to them yesterday after we talked about it," replied Lena, the Center's DOSM and revenue manager for space rental. "Why do you ask?" "I just got off the phone with the mayor's office. They want to hold a big fundraiser for his reelection campaign in the ballroom the same night the Sheridan wedding wanted to reserve it. The wedding was for 200 people right?" continued Denise. "That's right. 200 people at about $150 a head; it's a nice piece of business. About $30,000," said Lena. "Well the mayor expects 1,000 people, at $100 per person. And don't forget, he's the boss. We can't hold both events. I need you to call the Sheridans and tell them you made a mistake. Tell them the room is already booked that night. They'll need to find another space." Question 1: How much additional revenue would the mayor's event bring to the expo center?
Question 2: What would you advise Lara to do if she asked you for advice on how to respond to Denise's directive?
Question 3: Would the fact that the second space request came from the mayor's office affect your advice to Lena?
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On December 31, 2010, Ace had 250 shares of common stock outstanding and its book value per share was $50 - What amount should Balt report in its December 31, 2010 balance sheet as investment in Ace?
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