Final answer:
To vote to change the company's top management, it would take a minimum of 63 investors, including investors 1 and 2. However, the outcome of a vote is not solely determined by the number of shares owned.
Step-by-step explanation:
To determine the minimum number of investors it would take to vote to change the company's top management, we need to determine the total number of shares owned by investors other than investors 1 and 2.
The total number of shares owned by investors other than investors 1 and 2 is calculated by adding up the number of shares owned by investors 3 through 11:
- Investor 3: 15,000 shares
- Investor 4: 10,000 shares
- Investor 5: 7,000 shares
- Investors 6 through 11: 5,000 shares each, for a total of 30,000 shares
The total number of shares owned by investors other than investors 1 and 2 is 62,000 shares. Therefore, it would take a minimum of 63 investors (including investors 1 and 2) to vote to change the company's top management if investors 1 and 2 agree to vote together.
However, it's important to note that the outcome of a vote is not solely determined by the number of shares owned, but also by the voting rules and procedures outlined in the company's bylaws or corporate governance guidelines.
Therefore, even if investors 1 and 2 have a significant number of shares, they may not always be able to get their way in how the company will be run.
The complete question is: Given the following data:
Dec. 31, Year 2 Dec. 31, Year 1
Total liabilities $128,250 $120,000
Total stockholders' equity 95,000 80,000
Compute the ratio of liabilities to stockholders' equity for each year. Round to two decimal places.