Apollo Case Audit Planning part Question

Calculate common-size financial statements and dollar amount and percent changes. I suggest you simply make a copy of your spreadsheet from your pro-forma financial statements that I asked you to prepare yesterday and remove the adjustment columns. Have there been any significant changes that we need to examine closer?

Calculate financial ratios. Assume the market value of the common stock is $24 million in both the current and prior years. Does anything jump out at you?

If you have time, compare Apollos numbers with those of its closest competitors, Nike and Reebok. You can get those companies numbers from EDGAR (www.sec.gov). I am not sure if industry averages are available, but that too would be helpful.

Write a brief memo (GA-4) highlighting what you believe are potential problem areas. Include printouts of your calculations as support (GA-4-1, GA-4-2, etc.) Analytical Procedure