Question:
2.How did Buddhism find its way to China? Why do you think this outside belief was so readily accepted into Chinese society? How was Buddhism integrated into China?
Answer:
Hello Class,
I chose number two for this discussion post.
Buddhism originated in India and eventually spread across the eastern hemisphere. It was brought to china by merchants (or what some people would say monks). They brought their religion, lifestyle, and things to trade in China and Southeast Asia. It seemed like people took a liking to this new religion and appreciated what it is about. Most would say Buddhism is more relaxed and not so strict as Confucianism was. The warring state period was going on at the time Buddhism made its way to china and it brought a sense of togetherness and helped the Chinese get through those wars. During the wars the Silk Road Trade routes provided new avenues to spread Buddhism and the more it was shared the more people were able to change the beliefs to fit them. Buddhism seemed pretty straight forward and if you followed it the rest was customizable to you. I think it was so readily accepted because it was hard times and having something to believe in and having some hope is better than nothing, so I think people were ready to listen to just about anything. One of the Emperors in rule during the Han Dynasty was curious about the Buddha and sent people to go to India and learn about it, so it could be brought back to China. Emperor Ming Ti wanted to bring back the teachings and scripture from Buddhism and incorporate things into their society. The Chinese created a whole new version of Buddhism and that is why you can see mnay different statues of the Buddha with or without clothes smiling or not smiling.
OConnor, B. 2020.Why do Belief Systems Spread? How China Made Buddhism its Own.https://www.khanacademy.org/humanities/whp-origins/era-3-cities-societies-and-empires-6000-bce-to-700-c-e/35-development-of-belief-systems-betaa/a/read-why-do-belief-systems-spread-how-china-made-buddhism-its-own-beta
– Cynthia
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Budget and Commercial law
Balance Sheet_Horizontal
CAMPING WORLD HOLDINGS, INC.
Annual Report
Consolidated Balance Sheet – USD ($)
Increase or Decrease
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Amount
%
Current assets:
Cash and cash equivalents
$ 138,557
$ 224,163
$ (85,606)
-38.2%
Contracts in transit
53,214
46,227
6,987
15.1%
Accounts receivable, less allowance for doubtful accounts
85,711
79,881
5,830
7.3%
of $4,398 and $2,700 in 2018 and 2017, respectively
Inventories
1,558,970
1,415,915
143,055
10.1%
Prepaid expenses and other assets
51,710
41,138
10,572
25.7%
Total current assets
$ 1,888,162
$ 1,807,324
$ 80,838
4.5%
Property and equipment, net
359,855
198,022
161,833
81.7%
Deferred tax assets, net
145,943
152,683
(6,740)
-4.4%
Intangible assets, net
35,284
38,707
(3,423)
-8.8%
Goodwill
359,117
348,387
10,730
3.1%
Other assets
18,326
21,903
(3,577)
-16.3%
Total assets
$ 2,806,687
$ 2,567,026
$ 239,661
9.3%
Current liabilities:
Accounts payable
144,808
125,616
19,192
15.3%
Accrued liabilities
124,619
101,929
22,690
22.3%
Deferred revenues and gains
88,054
77,669
10,385
13.4%
Current portion of capital lease obligations
23
844
(821)
-97.3%
Current portion of Tax Receivable Agreement liability
9,446
8,906
540
6.1%
Current portion of long-term debt
12,977
9,465
3,512
37.1%
Notes payable – floor plan, net
885,980
974,043
(88,063)
-9.0%
Other current liabilities
39,211
32,662
6,549
20.1%
Total current liabilities
1,305,118
1,331,134
(26,016)
-2.0%
Capital lease obligations, net of current portion
– 0
23
(23)
-100.0%
Right to use liability
5,147
10,193
(5,046)
-49.5%
Tax Receivable Agreement liability, net of current portion
124,763
130,826
(6,063)
-4.6%
Revolving line of credit
38,739
– 0
38,739
ERROR:#DIV/0!
Long-term debt, net of current portion
1,152,888
907,437
245,451
27.0%
Deferred revenues and gains
67,157
64,061
3,096
4.8%
Other long-term liabilities
79,958
51,589
28,369
55.0%
Total liabilities
2,773,770
2,495,263
278,507
11.2%
Commitments and contingencies
Stockholder’s equity
Additional paid-in capital
– 0
42,520
(42,520)
-100.0%
Retained (deficit) earnings
(3,370)
7,619
(10,989)
-144.2%
Total stockholders’ equity attributable to Camping World Holdings, Inc.
44,538
50,511
(5,973)
-11.8%
Non-controlling interests
(11,621)
21,252
(32,873)
-154.7%
Total stockholders’ equity
32,917
71,763
(38,846)
-54.1%
Total liabilities and stockholders’ equity
2,806,687
2,567,026
239,661
9.3%
Class A common stock
Common stock
372
367
5
1.4%
Total stockholders’ equity
372
367
5
1.4%
Class B common stock
Common stock
5
5
– 0
0.0%
Total stockholders’ equity
5
5
– 0
0.0%
Class C common stock
Stockholders’ equity:
Common stock
Additional paid-in capital
$ 47,531
$ 42,520
$ 5,011
11.8%
Balance Sheet_Component %
CAMPING WORLD HOLDINGS, INC.
Annual Report
Consolidated Balance Sheet – USD ($)
Component Percentages
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Current assets:
Cash and cash equivalents
$ 138,557
$ 224,163
4.9%
8.7%
Contracts in transit
53,214
46,227
1.9%
1.8%
Accounts receivable, less allowance for doubtful accounts
85,711
79,881
3.1%
3.1%
of $4,398 and $2,700 in 2018 and 2017, respectively
0.0%
0.0%
Inventories
1,558,970
1,415,915
55.5%
55.2%
Prepaid expenses and other assets
51,710
41,138
1.8%
1.6%
Total current assets
$ 1,888,162
$ 1,807,324
67.3%
70.4%
Property and equipment, net
359,855
198,022
12.8%
7.7%
Deferred tax assets, net
145,943
152,683
5.2%
5.9%
Intangible assets, net
35,284
38,707
1.3%
1.5%
Goodwill
359,117
348,387
12.8%
13.6%
Other assets
18,326
21,903
0.7%
0.9%
Total assets
$ 2,806,687
$ 2,567,026
100.0%
100.0%
Current liabilities:
Accounts payable
144,808
125,616
5.2%
4.9%
Accrued liabilities
124,619
101,929
4.4%
4.0%
Deferred revenues and gains
88,054
77,669
3.1%
3.0%
Current portion of capital lease obligations
23
844
0.0%
0.0%
Current portion of Tax Receivable Agreement liability
9,446
8,906
0.3%
0.3%
Current portion of long-term debt
12,977
9,465
0.5%
0.4%
Notes payable – floor plan, net
885,980
974,043
31.6%
37.9%
Other current liabilities
39,211
32,662
1.4%
1.3%
Total current liabilities
1,305,118
1,331,134
46.5%
51.9%
Capital lease obligations, net of current portion
– 0
23
0.0%
0.0%
Right to use liability
5,147
10,193
0.2%
0.4%
Tax Receivable Agreement liability, net of current portion
124,763
130,826
4.4%
5.1%
Revolving line of credit
38,739
– 0
1.4%
0.0%
Long-term debt, net of current portion
1,152,888
907,437
41.1%
35.3%
Deferred revenues and gains
67,157
64,061
2.4%
2.5%
Other long-term liabilities
79,958
51,589
2.8%
2.0%
Total liabilities
2,773,770
2,495,263
98.8%
97.2%
Commitments and contingencies
Stockholder’s equity
Additional paid-in capital
– 0
42,520
0.0%
1.7%
Retained (deficit) earnings
(3,370)
7,619
-0.1%
0.3%
Total stockholders’ equity attributable to Camping World Holdings, Inc.
44,538
50,511
1.6%
2.0%
Non-controlling interests
(11,621)
21,252
-0.4%
0.8%
Total stockholders’ equity
32,917
71,763
1.2%
2.8%
Total liabilities and stockholders’ equity
2,806,687
2,567,026
100.0%
100.0%
Class A common stock
Common stock
372
367
Total stockholders’ equity
372
367
Class B common stock
Common stock
5
5
Total stockholders’ equity
5
5
Class C common stock
Stockholders’ equity:
Common stock
Additional paid-in capital
$ 47,531
$ 42,520
Operations_Horizontal
CAMPING WORLD HOLDINGS, INC.
Annual Report
Increase or Decrease
Increase or Decrease
Consolidated Statement of Operations – USD ($)
2017 to 2018
2016 to 2017
shares in Thousands, $ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Amount
%
Amount
%
Revenue
Total revenue
$ 4,792,017
$ 4,279,830
$ 3,516,307
$ 512,187
12.0%
$ 763,523
21.7%
Costs applicable to revenue (exclusive of
depreciation and amortization shown
separately below):
Total costs applicable to revenue
3,429,085
3,038,916
2,522,574
390,169
12.8%
516,342
20.5%
Operating expenses:
Selling, general, and administrative
1,069,359
853,160
691,884
216,199
25.3%
161,276
23.3%
Debt restructure expense
380
387
1,218
(7)
-1.8%
(831)
-68.2%
Depreciation and amortization
49,322
31,545
24,695
17,777
56.4%
6,850
27.7%
Goodwill impairment
40,046
– 0
– 0
40,046
ERROR:#DIV/0!
– 0
ERROR:#DIV/0!
Loss (gain) on sale of assets
2,810
(133)
(564)
2,943
-2212.8%
431
-76.4%
Total operating expenses
1,161,917
884,959
717,233
276,958
31.3%
167,726
23.4%
Income from operations
201,015
355,955
276,500
(154,940)
-43.5%
79,455
28.7%
Other income (expense):
Floor plan interest expense
(38,315)
(27,690)
(18,854)
10,625
-38.4%
8,836
-46.9%
Other interest expense, net
(63,329)
(42,959)
(48,318)
20,370
-47.4%
(5,359)
11.1%
Loss on debt restructure
(1,676)
(462)
(5,052)
1,214
-262.8%
(4,590)
90.9%
Tax Receivable Agreement liability adjustment
(1,324)
100,758
– 0
102,082
101.3%
100,758
ERROR:#DIV/0!
Total other income (expense)
(104,644)
29,647
(72,224)
134,291
453.0%
(101,871)
141.0%
Income before income taxes
96,371
385,602
204,276
(289,231)
-75.0%
181,326
88.8%
Income tax expense
(30,790)
(154,910)
(5,800)
(124,120)
80.1%
149,110
-2570.9%
Net income
65,581
230,692
198,476
(165,111)
-71.6%
32,216
16.2%
Less: net income attributable to non-controlling interests
(55,183)
(200,839)
(9,591)
(145,656)
72.5%
191,248
-1994.0%
Net income attributable to Camping World Holdings, Inc,.
10,398
29,853
188,885
(19,455)
-65.2%
(159,032)
-84.2%
Earnings per share of Class A common stock:
Basic
$ 1.12
$ 0.08
Diluted
$ 1.12
$ 0.07
Class A Common stock
Other income (expense):
Net income
65,581
230,692
11,113
Less: net income attributable to non-controlling interests
(55,183)
(200,839)
(9,591)
Earnings per share of Class A common stock:
Basic
$ 0.28
$ 1.12
$ 0.08
Diluted
$ 0.28
$ 1.12
$ 0.07
Weighted average shares of Class A common stock outstanding
Basic
36,985
26,622
18,766
Diluted
88,878
26,622
83,602
Operations_Component %
CAMPING WORLD HOLDINGS, INC.
Annual Report
Consolidated Statement of Operations – USD ($)
Component Percentages
shares in Thousands, $ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenue
Total revenue
$ 4,792,017
$ 4,279,830
$ 3,516,307
100.0%
100.0%
100.0%
Costs applicable to revenue (exclusive of
depreciation and amortization shown
separately below):
Total costs applicable to revenue
3,429,085
3,038,916
2,522,574
71.6%
71.0%
71.7%
Operating expenses:
Selling, general, and administrative
1,069,359
853,160
691,884
22.3%
19.9%
19.7%
Debt restructure expense
380
387
1,218
0.0%
0.0%
0.0%
Depreciation and amortization
49,322
31,545
24,695
1.0%
0.7%
0.7%
Goodwill impairment
40,046
– 0
– 0
0.8%
0.0%
0.0%
Loss (gain) on sale of assets
2,810
(133)
(564)
0.1%
-0.0%
-0.0%
Total operating expenses
1,161,917
884,959
717,233
24.2%
20.7%
20.4%
Income from operations
201,015
355,955
276,500
4.2%
8.3%
7.9%
Other income (expense):
Floor plan interest expense
(38,315)
(27,690)
(18,854)
-0.8%
-0.6%
-0.5%
Other interest expense, net
(63,329)
(42,959)
(48,318)
-1.3%
-1.0%
-1.4%
Loss on debt restructure
(1,676)
(462)
(5,052)
-0.0%
-0.0%
-0.1%
Tax Receivable Agreement liability adjustment
(1,324)
100,758
– 0
-0.0%
2.4%
0.0%
Total other income (expense)
(104,644)
29,647
(72,224)
-2.2%
0.7%
-2.1%
Income before income taxes
96,371
385,602
204,276
2.0%
9.0%
5.8%
Income tax expense
(30,790)
(154,910)
(5,800)
-0.6%
-3.6%
-0.2%
Net income
65,581
230,692
198,476
1.4%
5.4%
5.6%
Less: net income attributable to non-controlling interests
(55,183)
(200,839)
(9,591)
-1.2%
-4.7%
-0.3%
Net income attributable to Camping World Holdings, Inc,.
10,398
29,853
188,885
0.2%
0.7%
5.4%
Earnings per share of Class A common stock:
Basic
$ 1.12
$ 0.08
Diluted
$ 1.12
$ 0.07
Class A Common stock
Other income (expense):
Net income
65,581
230,692
11,113
Less: net income attributable to non-controlling interests
(55,183)
(200,839)
(9,591)
Earnings per share of Class A common stock:
Basic
$ 0.28
$ 1.12
$ 0.08
Diluted
$ 0.28
$ 1.12
$ 0.07
Weighted average shares of Class A common stock outstanding
Basic
36,985
26,622
18,766
Diluted
88,878
26,622
83,602
Ratio Analysis
2018
2017
2016
2018
2017
2016
Net Income
65,581
230,692
11,113
Net Income
65,581
230,692
11,113
Return on Equity (ROE) =
Average Total Stockholders’ Equity
52,340
(36,187)
(219,499)
Avg SE
52,340
(36,187)
(219,499)
Ending SE
32,917
71,763
(144,137)
=
125.3%
637.5%
5.1%
Beginning SE
71,763
(144,137)
(294,860)
Year
2018
2017
2016
ROE
125.3%
637.5%
5.1%
ROE 1.2529805120366833 6.3749965457208386 5.0629047578912838E-2