Consider the following scenario:Your boss has come to you for advice on the current finances of the company and needs you to create an income statement and balance sheet for 2009, 2010 and 2011. Your boss wants a detailed PowerPoint presentation with detailed speaking notes for each slide because he/she has no idea what she is talking about. Your boss will need slides that provide recommendations based on financial ratios to the industry standards. Your analysis must begin with a financial ratio presentation and assessment of your company based off industry benchmarks. Describe what each of the ratios mean.

Please find attached document to help you create your income statement and balance sheet. Once you have completed these financial statements you can conduct a ratio analysis based on the industry benchmarks within the document attached. Incorporate appropriate animations, transitions, and graphics as well as speaker notes for each slide. The speaker notes may be comprised of brief paragraphs or bulleted lists. Support your presentation withat least (4) scholarly resources. In addition to these specified resources, other appropriate scholarly resources may be included. Length: 15-20 slides (with a separate title and reference slides) Notes Length: 50-350 words for each slide

Be sure to include citations for quotations and paraphrases with references in APA format and style where appropriate. Save the file as PPT.

Assignment 2 Gilligan Island Inc., provides tropical vacations. The company sells vacations 30 days in advance. Your boss has no idea of the financial condition for some time and, therefore, is asking you to help with a more current assessment of the company's position for his/her meeting with the CEO. Below you will find a series of accounts that represent the trial balance of the business firm. These accounts encompass both income statement and balance sheet accounts. Accumulated depreciation Retained earnings Sales Cash Bonds payable Accounts receivable Depreciation expense Common stock shares outstanding Plant and equipment, at cost Taxes Accounts payable Common stock, $1 par Inventory Prepaid expenses Cost of goods sold Interest expense Selling and administrative expenses Marketable securities Other current liabilities Capital paid in excess of par (common) 2009 176,580 337,602 3,702,480 35,750 421,000 246,580 31,265 80,000 984,021 79,484 62,685 75,000 185,652 6,575 2,665,786 12,532 765,800 12,545 123,256 275,000 2010 209,050 510,731 3,961,654 62,635 334,000 293,430 32,470 80,000 1,026,880 93,223 116,696 75,000 243,117 21,525 2,879,049 10,325 773,458 23,564 150,674 275,000 2011 242,725 648,528 3,981,462 86,595 325,000 349,182 33,675 80,000 1,151,210 74,198 188,569 75,000 312,622 26,325 2,936,630 10,235 788,927 24,153 195,265 275,000 Required: Prepare (using Excel) a proper form income statement and balance sheet for the company. Make sure to create a proper form statement. Make sure you include these statements in your PowerPoint with speaking notes. Based on the financial statements that were prepared with this data, complete the following financial ratio calculations and provide a narrative discussion of these results as compared to industry averages (provided.) Ratios required: Ratio 1. Profit margin 2. Return on assets (use ending assets) 3. Return on common equity (use ending common equity) 4. Receivable turnover (use ending receivables) 5. Inventory turnover (use ending inventory) 6. Fixed asset turnover (use ending fixed asset balance) 7. Total asset turnover (use ending assets) 8. Current ratio 9. Quick ratio 10. Debt to total assets (use ending assets) Industry Average 3.2% 6.0% 15.6% 8.5 x 12.0 x 5.75 x 1.89 x 3.10 1.40 37.0% Your solution should include the required ratios for each year and then provide speaking notes regarding the results as they compare to the industry averages. This analysis should discuss whether or not company is better or worse than the industry average but it should not stop there. You should also include a speaking notes as to why or how the difference can be explained, i.e., the reason for the variance. The final slide is to be providing a recommendation to improve the finances of the company