Refer to Polaris financial statements in Appendix A to answer the following. 1. Using fiscal 2009 as

Question:

Refer to Polaris in Appendix A to answer the following.
1. Using fiscal 2009 as the base year, compute trend percents for fiscal years 2009, 2010, and 2011 for revenues, cost of sales, operating income, non- operating expenses, income taxes, and net income. (Round percents to one decimal.)
2. Compute common-size percents for fiscal years 2010 and 2011 for the following categories of assets:
(a) Total current assets,
(b) Property and equipment, net,
(c) and other . (Round percents to one decimal.)
3. Comment on any notable changes across the years for the income statement trends computed in part 1 and the percents computed in part 2.

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of... Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...