Refer to Polaris’ financial statements in Appendix A to answer the following.

1. For both years ended December 31, 2011 and 2010, identify the total amount of cash and cash equivalents. Determine the percent (rounded to one decimal) that this amount represents of total current assets, total current liabilities, total shareholders’ equity, and total assets for both years. Comment on any trends.

2. For years ended December 31, 2011 and 2010, use the information in the statement of cash flows to determine the percent change (rounded to one decimal) between the beginning and ending year amounts of cash and cash equivalents.

3. Compute the days’ sales uncollected (rounded to two decimals) as of December 31, 2011 and 2010. Has the collection of receivables improved? Are accounts receivable an important asset for Polaris? Explain. Fast Forward

4. Access Polaris’ financial statements for fiscal years ending after December 31, 2011, from its Website (Polaris.com) or the SEC’s EDGAR database (www.sec.gov). Recompute its days’ sales uncollected for years ending after December 31, 2011. Compare this to the days’ sales uncollected for 2011 and 2010.