Value added inc. buys $1 million of sow's ears at the beginning of january but doesn't pay immediately. instead, it agrees to pay the bill in march. it processes the ears into silk purses, which it sells for $2 million in february. however, it will not collect payment on the sales until april. (leave no cells blank - be certain to enter "0" wherever required. negative amounts should be indicated by a minus sign. enter your answers in thousands of dollars not in millions.)

(a) what is the firm’s net income in february?
(b) what is its net income in march?

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