Analyse the income and expense accounts from S&G's 2015, 2016 and 2017 annual reports. What changes did S&G's management make in response to the Quindell crisis? Consider all aspects of the business, not just those directly related to the Quindell acquisition or the subsequent impairment losses. (8 marks)

To answer this question, you should compare accounts from the three years, line by line, and analyse the accounts which changed significantly. You are encouraged to complement your analysis with figures and graphs. You should also consider researching sources beyond the company's financial reports which could provide more detail for your analysis (e.g. company press releases, credible news reports, etc...)

Please refer to the S&G annual reports for 2015, 2016 and 2017 below.

2015 annual report - https://www.annualreports.com/HostedData/AnnualReportArchive/s/ASX_SGH_2015.pdf

2016 annual report - https://media.slatergordon.com.au/sgh-2016-annual-report.pdf

2017 annual report - https://www.annualreports.com/HostedData/AnnualReportArchive/s/ASX_SGH_2017.pdf