The adams corporation, a merchandising firm, has budgeted its activity for november according to the following information: • sales at $645,000, all for cash. • merchandise inventory on october 31 was $220,000. • the cash balance november 1 was $27,400. • selling and administrative expenses are budgeted at $88,200 for november and are paid for in cash. • budgeted depreciation for november is $32,100. • the planned merchandise inventory on november 30 is $256,800. • the cost of goods sold is 75% of the selling price. • all purchases are paid for in cash. • there is no interest expense or income tax expense. the budgeted cash disbursements for november are:

Afirm wants to hire a project manager (pm) at a salary of $100,000. 30% of pms have high ability, and 70% of pms have low ability. high ability pms generate $120,000 in revenue and low ability pms generate $80,000 in revenue. in addition to differences in productivity, high and low ability pms have different outside offers. if a high ability pm is not hired by the firm, she can work for another company at a salary of $80,000. if the low ability pm is not hired by the firm, she can work for another company for $70,000. high ability pms are also able to get a project management professional (pmp) certification at a cost of $1,000. low ability pms are unable to get a pmp certification (they would fail the test). the firm is not able to observe a pm’s ability, but is able to observe and verify whether or not the pm has a pmp certificate.(a) draw the extensive form of the game.expert answer