Refer to Polaris financial statements 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, and

(c) goodwill and other intangible assets. (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 balance sheet percents computed in part 2.

Fast Forward 4.Access Polaris’ financial statements for fiscal years ending after December 31, 2011, from its Website (Polaris.com) or the SEC database (www.SEC.gov). Update your work for parts 1, 2, and 3 using the new information accessed.