2. The Gedman Corporation pursued a differentiated strategy in 2006 and had achieved a considerable amount of success. It had reached $100 million in revenue and earned a Return on equity of 20%. The next few years (2007 and 2008) were very challenging for the company, as the Great Recession took a toll on company revenues and profitability. Please evaluate the financial data below and examine the turnaround attempt at Gedman. What did the company apparently try to do? Was it successful with its turnaround strategy? Revenues COGS SG&A R&D Interest Expense Taxes Leverage Ratio ROE $ $ $ $ $ $ 2006 100,000,000 $ 60,000,000 $ 10,000,000 $ 10,000,000 $ 2,000,000 $ 3,600,000 $ 2.00 20.0% 2007 90,000,000 $ 54,000,000 $ 10,000,000 $ 10,000,000 $ 2,000,000 $ 2,800,000 $ 2.00 15.6% 2008 81,000,000 $ 50,220,000 $ 9,000,000 $ 8,000,000 $ 2,000,000 $ 2,356,000 $ 2.00 13.9% 2009 89,100,000 $ 57,915,000 $ 8,500,000 $ 7,000,000 $ 2,200,000 $ 2,697,000 $ 2.20 15.45 2010 111,375,000 $ 77,962,500 $ 9,000,000 $ 7,500,000 $ 3,080,000 $ 2,766,500 $ 2.60 16.5% 2011 150,356,250 108,256,500 9,200,000 8,000,000 3,696,000 4,240,750 2.80 17.0%