Problem: Shark Tank
Watch the following video:
Watch this Vimeo video about Mega Hair, a company that is going on "Shark Tank" to pitch their hair growth product. On 3/31/20xx, Mega Hair is jointly owned (50% each) by Jeff (Owner #1) and Violet (Owner #2).
(As you watch the video, collect the following quantitative data:)
a. How does Mega Hair propose to use the cash if they receive an offer (what accounts will be impacted)?
b. Offer 1 from Barbara:
c. Offer 2 from Lori:
• Analyze/assess quantitative (numbers #) to help make the investment decision in order to better understand how each offer would generally (I know you do not have the full financial information yet) impact the financial statements of the organization initially and over time,
1. Offer #1 from Barbara
List one impact and one account for the Income Statement AND one impact and one account for the Balance Sheet
2. Offer #1 from Lori
List one impact and one account for the Income Statement AND one impact and one account for the Balance Sheet
Example - an impact to the Income Statement could be increased sales, which will impact the revenue account. An impact to the Balance Sheet could be increased cash, which would impact the cash account. (Do not Reuse either of these examples)
• Consider qualitative information about investors and recommend which offer to accept (I know you do not have the full financial information yet).
Barbara Corcoran's credits include straight D's in high school and college and 20 jobs by the time she turned 23. It was her next job that would make her one of the most successful entrepreneurs in the country: She borrowed $1,000 and quit her job as a waitress to start a tiny real estate company in New York City. Over the next 25 years Barbara would transform that $1,000 loan into a $5 billion real estate business, building the largest and best-known brand in the business.
Lori Greiner started with one idea and turned it into a multi-million-dollar international brand. She is regarded as one of the most prolific inventors of retail products, having created over 500 products, and currently holds over 120 U.S. and international patents. Lori can tell instantly if a product is a "hero or a zero," and this is clearly shown through her many thriving investments and a 90% success rate on her new items launched. She's also well known for her impeccable negotiating skills and her uncanny ability to know and identify emerging brands and invest in them.
Based on the information above and after watching the video which offer is best to choose and answer the questions below:
I. Which offer are you recommending - Lori or Barbara?
II. Why? Provide at least one reason why you are recommending this offer.
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.