Consolidated financial statements for Company G are shown on the attached “Statement Analysis Template.” • Sales volume shown is net sales. • During Year 12 60% of net sales were on a credit basis. • Inventory is stated at cost on a first-in, first-out basis. • Depreciation expense totaled $1,875,000 for Year 12 and $1,644,000 for Year 11. • Depreciation expense is not shown as a separate item on the income statements but is included in store operating expense and general and administrative expense. • Depreciable assets are depreciated using the straight-line method over the estimated useful life of the assets. • The market value for the company common stock at the end of Year 11 was $3.50/share and at the end of Year 12 it was $5.75/share. For this task, you will use financial statements and pertinent industry data to interpret Company G’s financial condition. The required ratios have been calculated for Year 11 and are shown on the attached “Statement Analysis Template.” Ratios gathered from financial statements that were submitted to banks and other financing institutions by a large number of home centers are also included on the template. The industry ratios included on the template were generated from statements submitted by stores with annual sales between $10 million and $24 million. As you develop your response, you should consider Company G trends by comparing Year 12 ratios to the same ratios for Year 11, consider what is depicted by the horizontal analysis, and benchmark Company G’s performance and condition by comparing Year 12 ratios with the same ratios for the home center industry.
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