An investment analyst has been studying the long-term prospects of Congoleum Corp. and has asked for your assistance. Go to www.congoleum.com and click on “Corporate Information” on the bottom of the page. Then, click on “Investor Relations” on the right side of the next page. Finally, click on “2008 Annual Report.” Scroll down until you find the company’s financial statements and look them over very carefully. Focus on Note 1: “Basis of Presentation.”

Required

Write a memo to summarize the information found in this financial statement note and in the rest of the financial statements that could be helpful to the investment analyst who is investigating this company.