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

1. What percent of the original cost of Polaris’ property and equipment remains to be depreciated as of December 31, 2011, and at December 31, 2010? Assume these assets have no salvage value.

2. Over what length(s) of time is Polaris depreciating its major categories of property and equipment?

3. What is the change in total property and equipment (before accumulated depreciation) for the year ended December 31, 2011? What is the amount of cash provided (used) by investing activities for property and equipment for the year ended December 31, 2011? What is one possible explanation for the difference between these two amounts?

4. Compute its total asset turnover for the year ended December 31, 2011, and the year ended December 31, 2010. Assume total assets at December 31, 2008, are $763,653 ($ thousands).

Fast Forward 5.Access Polaris’ financial statements for fiscal years ending after December 31, 2011, at its Website (Polaris.com) or the SEC’s EDGAR database fwww.SEC.gov). Recompute Polaris’ total asset turn¬ over for the additional years’ data you collect. Comment on any differences relative to the turnover computed in part 4.