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Chapter 23 23 Performance Evaluation Performance Evaluation for for Decentralized Operations Decentralized Operations Accounting, 21 st

Chapter Chapter 2323

Performance Evaluation

Performance

Evaluation for

for

Decentralized Operations

Decentralized

Operations

Accounting, 21 st Edition

Warren

Reeve

Fess

© Copyright 2004 South-Western, a division of Thomson Learning. All rights reserved.
© Copyright 2004 South-Western, a division
of Thomson Learning. All rights reserved.

Task Force Image Gallery clip art included in this electronic presentation is used with the permission of NVTech Inc.

PowerPoint Presentation by Douglas Cloud

Professor Emeritus of Accounting Pepperdine University

Some Some of of the the action action has has been been automated, automated, so so
Some Some of of the the action action has has been been automated, automated,
so so click click the the mouse mouse when when you you see see this this
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Objectives

Objectives

Objectives

Objectives

Objectives Objectives Objectives Objectives 1. List and explain the advantages and After studying After After studying

1. List and explain the advantages and

After studying

After

After studying

After

studying this

studying this

this

this

chapter,

chapter, you

chapter,

chapter, you

you should

you should

should

should

bebe able

bebe able

able to:

to:

able to:

to:

disadvantages of decentralized operations.

  • 2. Prepare a responsibility accounting

cost center.

report for a

  • 3. Prepare responsibility accounting reports for a profit center.

  • 4. Compute and interpret the rate of return on investment, the residual income, and the balanced scorecard for an investment center.

Objectives Objectives Objectives Objectives 1. List and explain the advantages and After studying After After studying

Objectives

Objectives

Objectives

Objectives

Objectives Objectives Objectives Objectives 5. Explain how the market price, negotiated price, and cost price approaches

5. Explain how the market price,

negotiated price, and cost price

approaches to transfer pricing may be

used by decentralized segments of a

business.

Objectives Objectives Objectives Objectives 5. Explain how the market price, negotiated price, and cost price approaches
Centralized and Decentralized Operations
Centralized and
Decentralized
Operations

Advantages

Advantages ofof

Advantages

Advantages ofof

Decentralization

Decentralization

Decentralization

Decentralization

Advantages Advantages ofof Advantages Advantages of of Decentralization Decentralization Decentralization Decentralization  It allows managers to

It allows managers to focus on acquiring expertise in their areas of responsibility.

Decentralizing decision making provides excellent training for managers.

Delegation improves employee morale.

Decentralization helps managers create good customer relations by responding quickly to customers’ needs.

Managers become more creative in suggesting operating and product improvement.

Advantages Advantages ofof Advantages Advantages of of Decentralization Decentralization Decentralization Decentralization  It allows managers to

Disadvantages

Disadvantages ofof

Disadvantages

Disadvantages ofof

Decentralized Operations

Decentralized

Decentralized Operations

Decentralized

Operations

Operations

Disadvantages Disadvantages ofof Disadvantages Disadvantages of of Decentralized Operations Decentralized Decentralized Operations Decentralized Operations Operations 

Decisions made by one manager may negatively affect the profitability of the entire organization.

Assets and operating costs are duplicated (e.g., each division has its own administrative office staff).

Disadvantages Disadvantages ofof Disadvantages Disadvantages of of Decentralized Operations Decentralized Decentralized Operations Decentralized Operations Operations 
Responsibility Responsibility Centers Responsibility Responsibility Centers Cost Centers Cost Centers Centers Centers Managers are held accountable

Responsibility

Responsibility Centers

Responsibility

Responsibility Centers

Cost Centers

Cost

Centers

Centers Centers
Centers
Centers

Managers are held accountable for controlling costs.

Profit

Profit Centers

Centers

Managers are held accountable for costs and making decisions that impact revenues favorably.

Responsibility Responsibility Centers Responsibility Responsibility Centers Cost Centers Cost Centers Centers Centers Managers are held accountable
Responsibility Responsibility Centers Responsibility Responsibility Centers Centers Centers
Responsibility
Responsibility Centers
Responsibility
Responsibility Centers
Centers
Centers
Responsibility Responsibility Centers Responsibility Responsibility Centers Centers Centers Investment Centers Investment Centers Managers are held accountable
Responsibility Responsibility Centers Responsibility Responsibility Centers Centers Centers Investment Centers Investment Centers Managers are held accountable

Investment Centers

Investment

Centers

Managers are held accountable for costs and revenues and are also held accountable for the efficient use of assets.

Responsibility Responsibility Centers Responsibility Responsibility Centers Centers Centers Investment Centers Investment Centers Managers are held accountable
Responsibility Accounting Responsibility Responsibility Accounting Responsibility Accounting Accounting for for Cost for for Cost Cost Centers

Responsibility Accounting

Responsibility

Responsibility Accounting

Responsibility

Accounting

Accounting

for

for Cost

for

for Cost

Cost Centers

Centers

Cost Centers

Centers

COST CENTERS IN A UNIVERSITY

UNIVERSITY
UNIVERSITY
COLLEGE
COLLEGE
Dept. of Marketing College College of of College College of of Business Business Engineering Engineering College
Dept. of Marketing
College
College of
of
College
College of
of
Business
Business
Engineering
Engineering
College
College of
of Arts
Arts
and
and Sciences
Sciences
Dept. of Accounting
Dept. of Management
Responsibility Accounting Responsibility Responsibility Accounting Responsibility Accounting Accounting for for Cost for for Cost Cost Centers

Responsibility Accounting

Responsibility

Responsibility Accounting

Responsibility

Accounting

Accounting

for

for Cost

for

for Cost

Cost Centers

Centers

Cost Centers

Centers

COST CENTERS IN A UNIVERSITY

DEPARTMENT
DEPARTMENT
Department of Accounting
Department
of
Accounting
Cost Cost Centers Centers Budget Performance Report Supervisor, Department 1—Plant A For the Month Ended October
Cost
Cost Centers
Centers
Budget Performance Report
Supervisor, Department 1—Plant A
For the Month Ended October 31, 2006
Over
Under
Budget
Actual
Budget
Budget
Factory wages
$ 58,100
$ 58,000
$100
Materials
32,500
34,225
$1,725
Supervisory salaries
6,400
6,400
Power and light
5,750
5,690
60
Depreciation
4,000
4,000
Maintenance
2,000
1,990
10
Insurance, taxes
975
975
$109,725
$109,725
$109,725
$111,280
$111,280
$111,280
$1,725
$1,725
$1,725
$170
$170
$170
These These totals totals are are shown shown on on the the Manager, Manager, Plant Plant
A’s A’s budget budget performance performance report report (Slide (Slide 13). 13).
Cost Cost Centers Centers Budget Performance Report Manager, Plant A For the Month Ended October 31,
Cost
Cost Centers
Centers
Budget Performance Report
Manager, Plant A
For the Month Ended October 31, 2006
Over
Under
Budget
Actual
Budget
Budget
Administration $ 17,500 $ 17,350 $150
Department
Department 11
109,725
109,725
111,280
111,280
$1,555
$1,555
Department 1
109,725
111,280
$1,555
Department 2
190,500
192,600
2,100
Department 3
149,750
149,100
650
$467,475
$470,330
$3,655
$800
From From the the Supervisor—Department Supervisor—Department 1, 1, Plant Plant A A
budget budget performance performance report report (Slide (Slide 12). 12).
Cost Cost Centers Centers Budget Performance Report Manager, Plant A For the Month Ended October 31,
Cost
Cost Centers
Centers
Budget Performance Report
Manager, Plant A
For the Month Ended October 31, 2006
Over
Under
Budget
Actual
Budget
Budget
Administration
$ 17,500
$ 17,350
$150
Department 1
109,725
111,280
$1,555
Department 2
190,500
192,600
2,100
Department 3
149,750
149,100
650
$467,475
$467,475
$467,475
$470,330
$470,330
$470,330
$3,655
$3,655
$3,655
$800
$800
$800
This This is is shown shown on on the the Vice-President’s Vice-President’s
budget budget production production report report (Slide (Slide 16). 16).
Cost Cost Centers Centers Budget Performance Report Vice-President, Production For the Month Ended October 31, 2006
Cost
Cost Centers
Centers
Budget Performance Report
Vice-President, Production
For the Month Ended October 31, 2006
Over
Under
Budget
Actual
Budget
Budget
Administration
$ 19,500
$ 19,700
$
200
Plant
Plant AA
Plant A
467,475
467,475470,330
467,475
470,3302,855
470,330
2,855
2,855
Plant B
395,225
394,300
$925
$882,200
$884,330
$3,055
$925
Note
Note that
that Over
Over Budget
Budget isis aa net
net figure.
figure.
Cost Cost Centers Centers Budget Performance Report Vice-President, Production For the Month Ended October 31, 2006
Cost
Cost Centers
Centers
Budget Performance Report
Vice-President, Production
For the Month Ended October 31, 2006
Over
Under
Budget
Actual
Budget
Budget
Administration
$ 19,500
$ 19,700
$
200
Plant A
467,475
470,330
2,855
Plant B
395,225
394,300
$925
$882,200
$884,330
$3,055
$925
Each of the line items above is
Each of the line items above is
supported by a cost center report.
supported by a cost center report.
Responsibility Responsibility Accounting for Accounting for Profit Centers Profit Centers In a profit center, the unit

Responsibility

Responsibility

Accounting for

Accounting for

Profit Centers

Profit Centers

In a profit center, the unit manager has the

responsibility and the authority to make

decisions that affect both costs and revenues.

Responsibility Responsibility Accounting for Accounting for Profit Centers Profit Centers In a profit center, the unit
Profit centers may be Profit centers may be divisions, departments, divisions, departments, or products. or products.
Profit centers may be
Profit centers may be
divisions, departments,
divisions, departments,
or products.
or products.

Profit

Profit Centers

Centers

Profit Profit Centers Centers NEG, a diversified entertainment company, NEG, a diversified entertainment company, has two

NEG, a diversified entertainment company,

NEG, a diversified entertainment company,

has two profit centers: the Theme Park

has two profit centers: the Theme Park

Division and the Movie Production Division.

Division and the Movie Production Division.

Theme Park

Movie Production

Division

Division

Revenues

$6,000,000

$2,500,000

Operating expenses

2,495,000

405,000

Profit Profit Centers Centers NEG, a diversified entertainment company, NEG, a diversified entertainment company, has two

Profit

Profit Centers

Centers

Profit Profit Centers Centers Charging Service Department Costs Charging Service Department Costs to Production Divisions to

Charging Service Department Costs

Charging Service Department Costs

to Production Divisions

to Production Divisions

Purchasing Department: $400,000

(Activity base: number of purchase requisitions)

Theme Park Division Movie Production Division:

25,000 purchase requisitions 15,000 purchase requisitions

Total

40,000

Profit Profit Centers Centers Charging Service Department Costs Charging Service Department Costs to Production Divisions to

$400,000

$10 per purchase = requisition
$10 per purchase
=
requisition

40,000 purchase requisitions

Profit

Profit Centers

Centers

Profit Profit Centers Centers Charging Service Department Costs Charging Service Department Costs to Production Divisions to

Charging Service Department Costs

Charging Service Department Costs

to Production Divisions

to Production Divisions

Payroll Accounting: $255,000

(Activity base: number of payroll checks)

Theme Park Division Movie Production Division:

12,000 payroll checks 3,000 payroll checks

Total

15,000

= $17 per payroll check
= $17 per payroll check

$255,000

15,000 payroll checks

Profit

Profit Centers

Centers

Profit Profit Centers Centers Charging Service Department Costs Charging Service Department Costs to Production Divisions to

Charging Service Department Costs

Charging Service Department Costs

to Production Divisions

to Production Divisions

Legal Department: $250,000

(Activity base: number of payroll checks)

Theme Park Division

100

billed hours

Movie Production Division:

900 billed hours

Total

1,000

$250,000 = $250 per hour
$250,000
= $250 per hour

1,000 hours

Profit Profit Centers Centers Nova Entertainment Group Service Department Charges to NEG Divisions For the Year
Profit
Profit Centers
Centers
Nova Entertainment Group
Service Department Charges to NEG Divisions
For the Year Ended December 31, 2006
Theme
Movie
Park
Production
Service Department
Division
Division
Purchasing
$250,000
$150,000
25,000
25,000 purchase
purchase
15,000
15,000 purchase
purchase
25,000
25,000 purchase
purchase
15,000
15,000 purchase
purchase
requisitions
requisitions xx requisitions requisitions xx $10
$10
$10
$10
requisitions
requisitions xx requisitions requisitions xx $10
$10
$10
$10
per
per purchase
purchase per per purchase
purchase
per
per purchase
purchase per per purchase
purchase
requisition
requisition
requisition
requisition
requisition
requisition
requisition
requisition
Profit Profit Centers Centers Nova Entertainment Group Service Department Charges to NEG Divisions For the Year
Profit
Profit Centers
Centers
Nova Entertainment Group
Service Department Charges to NEG Divisions
For the Year Ended December 31, 2006
Theme
Movie
Park
Production
Service Department
Division
Division
Purchasing
$250,000
$150,000
Payroll accounting
204,000
51,000
12,000
12,000 payroll
payroll 3,000 3,000 payroll
payroll
12,000
12,000 payroll
payroll 3,000 3,000 payroll
payroll
checks
checks xx $17
$17 per
checks
checks xx $17
per
$17 per
per
checks
checks xx $17
$17 per
checks
checks xx $17
per
$17 per
per
payroll
payroll check
check payroll payroll check
check
payroll
payroll check
check payroll payroll check
check
Profit Profit Centers Centers Nova Entertainment Group Service Department Charges to NEG Divisions For the Year
Profit
Profit Centers
Centers
Nova Entertainment Group
Service Department Charges to NEG Divisions
For the Year Ended December 31, 2006
Theme
Movie
Park
Production
Service Department
Division
Division
Purchasing
$250,000
$150,000
Payroll accounting
204,000
51,000
Legal
25,000
225,000
100
100 hours
hours xx $250
$250
900
900 hours
hours xx $250
$250
100
100 hours
hours xx $250
$250
900
900 hours
hours xx $250
$250
per
per hour
hour
per
per hour
hour
per
per hour
hour
per
per hour
hour
Profit Profit Centers Centers Nova Entertainment Group Service Department Charges to NEG Divisions For the Year
Profit
Profit Centers
Centers
Nova Entertainment Group
Service Department Charges to NEG Divisions
For the Year Ended December 31, 2006
Theme
Movie
Park
Production
Service Department
Division
Division
Purchasing
$250,000
$150,000
Payroll accounting
204,000
51,000
Legal
25,000
225,000
Total service department charges
$479,000
$426,000
Nova Entertainment Group Divisional Income Statements For the Year Ended December 31, 2006 Theme Park Division
Nova Entertainment Group
Divisional Income Statements
For the Year Ended December 31, 2006
Theme Park Division
Movie Production Division
Revenues
$6,000,000
$2,500,000
Operating expenses
2,495,000
405,000
Income from operations
$3,505,000
$2,095,000
Income from operations before
Income from operations before
service department charges.
service department charges.
Nova Entertainment Group Divisional Income Statements For the Year Ended December 31, 2006 Theme Park Division
Nova Entertainment Group
Divisional Income Statements
For the Year Ended December 31, 2006
Theme Park Division
Movie Production Division
Revenues
Operating expenses
Income from operations
$6,000,000$2,500,000
2,495,000
405,000
$3,505,000$2,095,000
Less service dept. charges:
Purchasing
Payroll accounting
Legal
$
250,000$
150,000
204,00051,000
25,000
225,000
Total service department
charges$
479,000
$
426,000
Income from operations
$3,026,000$1,669,000
Responsibility Responsibility Accounting for Accounting for Investment Centers Investment Centers In an investment center, the unit

Responsibility

Responsibility

Accounting for

Accounting for

Investment Centers

Investment Centers

In an investment center, the unit manager has the

responsibility and the authority to make decisions

that affect not only costs and revenues but also

the assets invested in the center.

Responsibility Responsibility Accounting for Accounting for Investment Centers Investment Centers In an investment center, the unit
Investment Investment Centers Centers Datalink Inc. Divisional Income Statements For the Year Ended December 31, 2006
Investment
Investment Centers
Centers
Datalink Inc.
Divisional Income Statements
For the Year Ended December 31, 2006
Northern
Central
Southern
Division
Division
Division
Revenues
$560,000 $672,000 $750,000
Operating expenses 336,000 470,400 562,500
Income from operations
before service dept. charges
$224,000 $201,600 $187,500
Service department charges
154,000
117,600 112,500
Income from operations
$ 70,000 $ 84,000 $ 75,000
Invested assets
$350,000
$700,000
$500,000
Rate of return on investment
20%
20%20%
12%
12%12%
15%
15%15%
Rate Rate ofof Return Rate Rate ofof Return Return onon Investment Return onon Investment Investment (ROI)
Rate
Rate ofof Return
Rate
Rate ofof Return
Return onon Investment
Return onon Investment
Investment (ROI)
Investment (ROI)
(ROI)
(ROI)
Revenues
Rate Rate ofof Return Rate Rate ofof Return Return onon Investment Return onon Investment Investment (ROI)
Rate Rate ofof Return Rate Rate ofof Return Return onon Investment Return onon Investment Investment (ROI)
Rate
Rate ofof Return
Rate
Rate ofof Return
Return onon Investment
Return onon Investment
Investment (ROI)
Investment (ROI)
(ROI)
(ROI)
Profit Profit Margin Investment Turnover
Profit
Profit
Margin
Investment
Turnover
Rate Rate ofof Return Rate Rate ofof Return Return onon Investment Return onon Investment Investment (ROI)
Rate
Rate ofof Return
Rate
Rate ofof Return
Return onon Investment
Return onon Investment
Investment (ROI)
Investment (ROI)
(ROI)
(ROI)

The

investment

turnover

indicates

the rate of

sales on

each dollar

of invested

assets.

The profit margin indicates the rate of profit on each sales dollar. Profit Margin Investment Turnover
The profit margin
indicates the rate of profit
on each sales dollar.
Profit
Margin
Investment
Turnover
Rate Rate ofof Return Rate Rate ofof Return Return onon Investment Return onon Investment Investment (ROI)
Rate
Rate ofof Return
Rate
Rate ofof Return
Return onon Investment
Return onon Investment
Investment (ROI)
Investment (ROI)
(ROI)
(ROI)
Rate Rate ofof Return Rate Rate ofof Return Return onon Investment Return onon Investment Investment (ROI)

ROI =

Income from operation

x

Sales

Sales

Invested assets

ROI =

ROI =

$ 70,000

$560,000

x

$560,000

$350,000

Rate Rate ofof Return Rate Rate ofof Return Return onon Investment Return onon Investment Investment (ROI)

12.5% x 1.6 = 20%

Rate Rate ofof Return Rate Rate ofof Return Return onon Investment Return onon Investment Investment (ROI)
Rate
Rate ofof Return
Rate
Rate ofof Return
Return onon Investment
Return onon Investment
Investment (ROI)
Investment (ROI)
(ROI)
(ROI)
Rate Rate ofof Return Rate Rate ofof Return Return onon Investment Return onon Investment Investment (ROI)

ROI =

Income from operation Sales x Sales Invested assets Profit Profit Inventory Inventory Margin Margin Turnover Turnover
Income from operation
Sales
x
Sales
Invested assets
Profit
Profit
Inventory
Inventory
Margin
Margin
Turnover
Turnover
Northern Central Southern Profit Profit Margin Margin Division Division Division Income from operations Revenues (Sales) $
Northern
Central
Southern
Profit
Profit Margin
Margin
Division
Division
Division
Income from operations
Revenues (Sales)
$ 70,000$ 84,000 $ 75,000
$560,000$672,000$750,000
Profit margin
12.5%12.5%10.0%
Investment
Investment Turnover
Turnover
Revenues (Sales)
Invested assets
$560,000$672,000$750,000
$350,000$700,000$500,000
Investment turnover
1.6
.96
1.5
Return
Return onon Investment
Investment (ROI)
(ROI)
Income from operations
$ 70,000
$ 84,000
$ 75,000
Invested assets
$350,000
$700,000
$500,000
Rate of return on investment
20%
12%
15%

Income

from

Operations

Income from Operations – Minimum Acceptable Rate of Return on Assets = Residual Residual Income Income

Minimum

Acceptable

Rate of

Return on

Assets

=

Residual

Residual

Income

Income

Income from Operations – Minimum Acceptable Rate of Return on Assets = Residual Residual Income Income
Baldwin Company Divisional Income Statements For the Year Ended December 31, 2006 Northern Central Southern Division
Baldwin Company
Divisional Income Statements
For the Year Ended December 31, 2006
Northern
Central
Southern
Division
Division
Division
Income from operations
$70,000
$84,000
$75,000
Minimum acceptable income
from operations as a percent
of invested assets:
$350,000 x 10%
35,000
$700,000 x 10%
70,000
$500,000 x 10%
50,000
Residual income
$35,000
$14,000
$25,000
The balance scorecard is a set of The balance scorecard is a set of financial and
The balance scorecard is a set of
The balance scorecard is a set of
financial and nonfinancial measures
financial and nonfinancial measures
that reflect multiple performance
that reflect multiple performance
dimensions of a business.
dimensions of a business.

Innovation and

Innovation and

Learning

Learning

R&D investment

R&D investment

R&D pipeline

R&D pipeline

Skills and training

Skills and training

Time to market

Time to market

Innovation and Innovation and Learning Learning R&D investment R&D investment R&D pipeline R&D pipeline Skills and
Innovation and Innovation and Learning Learning R&D investment R&D investment R&D pipeline R&D pipeline Skills and
Innovation and Innovation and Learning Learning R&D investment R&D investment R&D pipeline R&D pipeline Skills and
Internal Process • • Efficiency Efficiency • • Quality Quality • • Time Time
Internal
Process
Efficiency
Efficiency
Quality
Quality
Time
Time
• • • • • • • •

Customer

Customer

Satisfaction

Satisfaction

Loyalty

Loyalty

Perception

Perception

Innovation and Innovation and Learning Learning R&D investment R&D investment R&D pipeline R&D pipeline Skills and
Financial Financial • • ROI ROI • • Residual income Residual income • • Profit Profit
Financial
Financial
ROI
ROI
Residual income
Residual income
Profit
Profit
Cost
Cost
Sales
Sales
Innovation and Innovation and Learning Learning R&D investment R&D investment R&D pipeline R&D pipeline Skills and
Transfer Pricing Transfer Pricing
Transfer Pricing Transfer Pricing
Transfer Pricing
Transfer Pricing
Transfer Pricing Transfer Transfer Pricing Transfer Pricing Pricing When divisions transfer products or When divisions transfer

Transfer Pricing

Transfer

Transfer Pricing

Transfer

Pricing

Pricing

When divisions transfer products or When divisions transfer products or render services to each other, a
When divisions transfer products or
When divisions transfer products or
render services to each other, a
render services to each other, a
transfer pricing is used to charge for
transfer pricing is used to charge for
the products or services
the products or services

Benefits

Benefits ofof Transfer

Benefits

Benefits ofof Transfer

Transfer Pricing

Transfer Pricing Pricing Pricing
Transfer Pricing
Pricing
Pricing

1.Divisions can be evaluated as profit or investment centers.

2.Divisions are forced to control costs and operate competitively.

3.If divisions are permitted to buy component parts wherever they can find the best price (either internally or externally), transfer pricing will allow a company to maximize its profits.

Benefits Benefits ofof Transfer Benefits Benefits of of Transfer Transfer Pricing Transfer Pricing Pricing Pricing 1.Divisions

Commonly Used

Commonly

Commonly Used

Commonly

Used Transfer

Used Transfer

Transfer Prices Transfer Prices Prices Prices
Transfer Prices
Transfer Prices
Prices
Prices
  • 1. Market price approach sets the price at which the product transferred could be sold to outside buyers.

  • 2. Negotiated price approach allows decentralized managers to agree (negotiate) among themselves.

  • 3. Cost price approach (variable or full) uses a variety of cost concepts for setting the transfer price.

Commonly Used Commonly Commonly Used Commonly Used Transfer Used Transfer Transfer Prices Transfer Prices Prices Prices

Commonly Used

Commonly

Commonly Used

Commonly

Used Transfer

Used Transfer

Transfer Prices Transfer Prices Prices Prices
Transfer Prices
Transfer Prices
Prices
Prices
Variable Cost Full Cost Market Price per Unit $10 per Unit $13 per Unit $20 Negotiated
Variable Cost
Full Cost
Market Price
per Unit $10
per Unit $13
per Unit $20
Negotiated Price
Commonly Used Commonly Commonly Used Commonly Used Transfer Used Transfer Transfer Prices Transfer Prices Prices Prices
Chapter 22 22 The End The End

Chapter

Chapter 2222

The End The End
The End
The End