Week 2: Paper 1Attached Files: Paper 1 Description(1)-1.docx (27.232 KB)Paper 1: Before the Ethical Dilemma: Defining the Source of Your Ethical Beliefs You will be asked to define what the Bible says about Business and about ethical practices. You will also be asked to determine your Ethical Point of View reviewing the various major ethical positions from Chapter 1. Your beliefs guide your behaviors and frame principles and values by which you live. Beliefs generally stem from your culture and environment, a creed or code to which a person adheres, the way you view your world (paradigm) and things which you have been taught. Your beliefs frame your attitude and your actions towards others – so from where do they come? This assignment is meant to guide you through this process. There are five parts to the assignment: Parts 1, 2, 3 & 4 of this first Paper: Define your personal beliefs by following the Four Dimensions of your Personal Belief System [adapted from “The Four Dimensions of Leadership,” Blanchard, K. H., & Hodges, P. (2005). Lead like Jesus: Lessons from the greatest leadership role model of all times. Nashville, TN: W Pub. Group.]. 1. the heart: feelings, intentions, motivations - those things which are most important to you 2. the head: the way you view your world (paradigm) and your view of truth & right (creed or code) 3. the hands: the expression of your heart & head - the values which direct your behaviors, and your attitudes about life and people 4. the habits: patterns of doing life daily - your personal disciplines and the things you have learned to do in certain situations from your culture and environment (responses to stimuli) ** CRITICAL – You must identify any sources which you cite as foundational to your beliefs! Part 5 of this first Paper: As another part of the Examination Process above, students will examine each of the ethical viewpoints from Chapter 1 (3rd ed) (1-2 sentences each), and compare these ethical viewpoints to their own above-stated “worldview” or personal belief system. How do these ethical viewpoints compare and/or contrast with your own above-stated beliefs about ethical behavior? · Summarize each of the ethical viewpoints from Chapter 1 (1-2 sentences each). · What are the potential weaknesses of each viewpoint (1-2 sentences each) · Which is closest to your viewpoint? Compare two or three viewpoints to your own (How / Why) Since this paper reflects on things that you've learned from your family; from exposures to other sources; and from things that you have learned and believed as you're grown you will need to try and identify those sources as best as you can. Since most of this paper is from your own perspective it will mainly be in first person unless you're talking about what others have said about you. The deliverable ultimately will be the starting point for your ethical decision making model. How do you view ethical issues based on your beliefs; and how will you make ethical decisions based on your values? Paper 1: Before the Ethical Dilemma: Defining the Source of Your Ethical Beliefs You will be asked to define what the Bible says about Business and about ethical practices. You will also be asked to determine your Ethical Point of View reviewing the various major ethical positions from Chapter 1. Your beliefs guide your behaviors and frame principles and values by which you live. Beliefs generally stem from your culture and environment, a creed or code to which a person adheres, the way you view your world (paradigm) and things which you have been taught. Your beliefs frame your attitude and your actions towards others – so from where do they come? This assignment is meant to guide you through this process.

Preparation of an Income Statement for The Serious Reader CompanyThe first case of this course provides an opportunity to prepare a segmented variable costing (contribution margin, behavioral) income statement and analyze the information. This is a very small company and the information may seem simplistic at first glance. Don’t forget that numbers and hands-on practice best illustrate many basic accounting concepts.The Serious Reader Company is a small online retailer operating out of a garage apartment. The owner buys books at garage sales, thrift shops, library sales, and whenever an opportunity arises. The company classifies all books into five categories based on cost of acquisition and estimated sales price. See below for details about books purchased and sold during the last year (20XX).Price CategoriesABCDEUnits Sold4,0001,000500400400Unites Purchased6,0001,2001,0001,0001,000Resale Price$4.00$12.00$20.00$45.00$60.00Cost$0.50$4.00$10.00$20.00$20.00In addition to purchasing inventory (used books), the company incurs some operating expenses. Variable Operating Expenses Shipping per book$1.50Common fixed expenses Internet-related costs$10,000 Travel, etc.$4,000 Advertising$1,000 Other overhead$5,000Case AssignmentRequired:Computations (use Excel)Prepare a segmented variable costing (behavioral) income statement for the company in good format.Prepare a second variable costing statement assuming 90% of all the books in each category purchased were actually sold.Prepare a third variable costing statement assuming that the price is increased by 50% for all five categories (use original sales information).The owner enjoys the used-book business. Any suggestions as how to turn this into a full-time business venture so the owner can quit his other job? Prepare another income statement to support your idea.Memo (use Word)Interpret the results from the computations and explain how the information is useful. Write a 4- or 5-paragraph memo to the owner of the business. Start with an introduction and end with a recommendation. Each of the four or five paragraphs should have a heading.Short essay to comment on the questions below (use Word). Start with an introduction and end with a summary or conclusion. Use headings. Maximum length of two pages.Why do many organizations make the effort to prepare a different type of income statement for internal purposes?Variable costing is not just about preparing income statements. Provide at least three scenarios in which understanding how costs behave is useful.