I need help with section B, C, and D of the question below on Patrick Industries Inc 10-k. I have attached the link to the 10-k and screenshots of the full assignment.

sec.gov/ix?doc=/Archives/edgar/data/76605/000007660520000046/patk12-31x1910xk.htm#sEDA75F02038F56BA95FD7B667D71B8EA

8: To become more familiar with Financial Statements, understand the industry for this company and finding information through Edgar for SEC filings, please use Patrick Industries, Inc.(SIC 2430) information to answer the following questions only. The sections of the 10K that I would focus on to answer the questions below would be the following: business; risk factors; and Management Discussion and Analysis;

The website to access the 10K is http://www.sec.gov/edgar/searchedgar/companysearch.html.

You should use the 12/31/19 10K filing. This company is in the same industry as Vacation First.

a. Identify the company's 2 reportable segments and list 5 product lines for each segment. What are the four primary markets that the company sells to and the % of sales for each area?

Patrick Industries, Inc. offers various product lines in the RV and Marine like laminated and vinyl, aluminum and granite, custom cabinetry, paint and fixture, electronics and furniture appliances, and door industries. Some of their featured brands are Adorn, AIA Countertops, LaSalle, Baymont, BH Electronics, Cana Cabinetry, Creative Wood Designs, Custom Vinyl's, Fresno Shower Door, Marine Electrical Products, Topline Counters, and Parkland Plastics. The most massive sales and profit amounts came from their acquisition of LaSalle, increasing sales by 34% to $699.2 million from $521.2 million.

Furthermore, other specific product lines increased by $74 million, retrospectively expanding the company's Manufactured Housing or "MH" industry by 59%, including an offsetting decrease of 10% in sales from the RV industry. Although the sales increase from $2.26 billion to $2.34 billion is reflected by the revenue contribution of LaSalle Bristol in the fourth quarter of 2018.

b. Choose one market area and discuss what has been happening in that segment. For example, have sales been increasing or decreasing? Competition? Outside factors like labor or material procurement? what are the areas of concern? Are these issues concerns also for Vacation First?

c. What is the company doing to create their brand name? Describe this in detail.

d. Apply the industry knowledge you acquired from your review of Patrick Industries to make a list of recommendations (minimum of 3) that Vacation First should implement and/or be aware of when running their own business. FYI, this is not your closing paragraph....

Manning School of Business UMASS Accounting Information for Management Decisions LOWELL (Acct.6010) Learning with Purpose Research project Vacation first Manufacturing has a factory that produces cabinetry for the RV and marine market. The company has other product lines. Materials and labor for the cabinets are determined by each job. To simplify the assignment, we will assume the following average costs The following information highlights Vacation first Manufacturing's cost structure for 2020. . The materials include $2,400 for the wood and other materials on a per job basis. . It requires 25 hours of labor on average for the cabinetry. The hourly rate is $10. . The sales price will be set at a markup of 95%. . The company estimates that it will have 30,000 direct labor hours in total for the cabinets. . It assumes 1200 units are sold on average per year. A breakdown of estimated yearly costs related to the cabinetry follows: Salaries- office & administrative $ 520,000 Salaries for factory personal $ 320,000 Office Rent $ 150,000 Factory Rent $ 30,000 Office utilities and Misc office expenses(based on units sold) $ 20,000 Sales travel(based on units sold) $ 24,000 Insurance - office $ 12,000 Depreciation - office equipment $ 40,000 Depreciation for factory equipment $ 70,000 Advertising $ 20,000 Sales commissions(based on units sold) $ 45,000 Factory Property taxes 16,000 Maintenance for factory equipment $ 80,000 Hint: you will need to distinguish between product vs. period costs and variable vs fixed costs. Please do not forget all costs for this company(not just the ones listed above in the table)Detailed Questions: 1. Discuss other options for the activity base besides the DL h0urs currently used and the importance of the MOH allocation. Is this the best activity base for this company? Do multiple product lines impact the MOH allocation? How? 2. What other factors would impact the sales price for this type of company? Can a company rely on setting price based on just a % on cost? What is important in the current environment to a business in this industry to consider? 3. Discuss the importance of Excel Q6 calculations to Vacation rst Manufacturing (BE, TP and MOS). Give examples supported by numbers of how y0u w0uld use these calculations as the CFO of the company. (create a new spreadsheet) Fully discuss the differences between the traditional vs CVP format (minimum of 3). 4. Should the company consider the changes from excel Q7? Why or why not? Give some real examples of additional cost increases for xed costs and decreases for direct materials that could be implemented for this specic business. gat least 3 examples in total )_ Please consider and discuss the following areas: xed costs change, CM per unit change and sales uctuation. I would recommend creating a new spreadsheet (with the changes) with the same volumes as excel Q6 and additional volumes to understand how to answer this question. 5. Due to the current Covid crisis, the factory was shut down for 2 weeks. In addition, the company expects that normal operating levels will not be met due to supplier issues. Explain what will happen to the MOH costs on a per unit basis if fewer units are sold. Could it impact per unit cost? (keep in mind the type of cost that MOH is for this company) 6. If the company adds the molded door line, should ABC be considered? Why? Fully discuss all pertinent points and show calculations needed to support your answers. 7. With the current Covid crisis, please discuss at least 3 nancial issues that this company should be concerned about and suggestions to the board on how to address these issues. Is this an industry that has seen increased or decreased sales due to Covid? 8. To become more familiar with Financial Statements, understand the industry for this company and nding information through Edgar for SEC lings, please use Patrick Industries, Inc.(SIC 2430) information to answer the following Questions only; The sections of the 10K that Iwould focus on to answer the questions below would be the following: business; risk factors; and Management Discussion and Analysis; The website to access the 10K is ht_tp://www.sec.gov/edgarfsearchedgar/companysearch html. You sh0uld use the 12/3 1} 19 10K ling. This company is in the same industry as Vacation First. a. Identify the company's 2 reportable segments and list 5 product lines for each segment. What are the four primary markets that the company sells to and the % of sales for each area? I}. Choose one market area and discuss what has been happening in that segment. For example, have sales been increasing or decreasing? Competition? Outside factors like labor or material proCurement? what are the areas of concern? Are these issues concerns also for Vacation First? 0. What is the company doing to create a brand name? Describe this in detail. d. Apply the industry knowledge y0u acquired from y0ur review of Patrick Industries to make a list of recommendations (minimum of 3) that Vacation First should implement andlor be aware of when running their own business. FYI, this is not y0ur closing paragraph. . .. Page | 4 Schedule A Vacation First - Classifications of Costs and Yearly Totals Cost Item Amount Product Costs Period Costs Variable Costs Fixed Costs Materials $2,880,000 $ 2,880,000 $ 2,880,000 Labor 300,000 300,000 300,000 Salaries - Office & Administrative 520,000 520,000 520,000 Salaries for factory personal 320,000 320,000 320,000 Office Rent 150,000 150,000 150,000 Factory Rent 30,000 30,000 30,000 Office utilities and Misc. office expenses 20,000 20,000 20,000 Sales travel 24,000 24,000 24,000 Insurance - office 12,000 12,000 12,000 Depreciation - office equipment 40,000 40,000 40,000 Depreciation - for factory equipment 70,000 70,000 70,000 Advertising 20,000 20,000 20,000 Sales commission 45,000 45,000 45,000 Factory Property taxes 16,000 16,000 16,000 Maintenance for factory equipment 80,000 80,000 80,000 Total Costs $ 3,696,000 $831,000 $ 3,269,000 $1,258,000 Per Unit Cost $2,724CONSOLIDATED OPERATING RESULTS The following table sets forth the percentage relationship to net sales of certain items on the Company's consolidated statements of income for the years ended December 31, 2019, 2018 and 2017. Year Ended December 31, 2019 2018 2017 Net sales 100.0% 100.0% 100.0% Cost of goods sold 81.9 81.6 82.9 Gross prot 18.1 18.4 17.] Warehouse and delivery expenses 4.2 3.3 29 Selling, general and administrative expenses 5.8 5.7 5.6 Amortization of intangible assets 1.5 1.5 1.2 Operating income 6.6 7.9 7.4 Interest expense, net 1.6 1.2 05 Income taxes 1.2 1.4 1.7 Net income 3.8 5.3 5.2 Year Ended December 31, 2019 Compared to 2018 Net Sales. Net sales in 2019 increased approximately $74.0 million or 3%, to $2.34 billion from $2.26 billion in 2018. The increase was attributable to a 59% increase in the Company's sales from the MH industry, a 20% increase in revenues from the marine industry and a 2% increase in sales from the industrial markets, partly offset by a 10% decrease in sales from the RV industry. The sales increase largely reected the revenue contribution from the acquisition of LaSalle Bristol (\"LaSalle\"), completed in the fourth quarter of2018. The consolidated net sales decrease from the RV industry in 2019 primatily reected decreases in RV OEM wholesale unit shipments. In 2019 and 2018, revenue attributable to acquisitions completed in each of those periods was $8.3 million and $249.3 million, respectively. The Company's RV content per wholesale unit for 2019 increased 7% to $3,170 om $2,965 in 2018. Marine powerboat content per retail unit for 2019 increased 26% to an estimated $1,581 from $1,256 in 2018. The IV-I content per wholesale unit fo 2019 increased 62% to $4,616 om $2,849 in 2018. Economic or industry-wide factors a'ecting the protability of our RV, MH, marine and industrial businesses include the costs of commodities and the labor used to manufacture our products as well as the competitive environment that can cause gross margins to uctuate from quarter-to-quarter and year-toyear. Warehouse and Delivery Expenses. Warehouse and delivery expenses increased $23.1 million, or 31%, to $98.1 million in 2019 from $75.0 million in 2018. As a percentage of net sales, warehouse and delivery expenses were 4.2% in 2019 and 3.3% in 2018. The increase in expense 2019 compared to 2018 was primarily attributable to the impact of the LaSalle acquisition that had higher warehouse and delivery expenses as a percentage of net sales when compared to the consolidated percentage. Increased sales volumm in 2019 compared to 2018 also contributed to the increase in warehouse and delivery expense. In addition, the Company's shipments to OEMs in 2019 compared to 2018 were generally lower volume and higher frequency, and as a result transportation costs relative to sales levels of products delivered increased as a percentage of net sales. Selling, General and Administrative ("SGRLA") Expenses. SG&A expenses increased $6.3 million1 or 5%, to $134.5 million in 2019 from $128.2 million in 2018. As a percentage of net sales, SG&A expenses were 5.8% in 2019 and 5.7% in 2018. The increase in SG&A expenses in 2019 compared to 2018 is primarily due to: (i) a loss on extinguishment of debt associated with the amendment of the Company's credit facility in 2019 and (ii) the impact of certain acquisitions completed in 2018 that had higher SG&A expenses as a percentage of net sales when compared to the consolidated percentage. Partially offsetting these factors was a decrease in incentive compensation and sales commissions in 2019 compared to 2018. Amortization of Intangible Assets. Amortization of intangible assets increased $1.7 million, or 5%, in 2019 compared to 2018. The increase in 2019 compared to 2018 primarily reects the impact of businesses acquired in 2018, partly offset by purchase accounting adjustments to intangible assets and the associated impact to amortization expense. Operating Income. Operating income decreased $24.0 million, or 13%, to $154.4 million in 2019 from $178.4 million in 2018. Operating income in 2019 and 2018 included $0.9 million and $23.2 million, respectively, from the businesses acquired in each such year. Operating income as a percentage of net sales was 5.6% in 2019 and 7.9% in 2018. The decrease in operating income is primarily attributable to the items discussed above. Interest Expense, Net. Interest expense, net, increased $10.2 million, or 39%, to $36.6 million in 2019 from $26.4 million in 2018. The increase in net interest expense reects: (i) increased borrowings related to 2018 acquisitions, (ii) increases in the average interest rate on the variable rate portion of the Company's debt, which reects a higher weighted average LHBOR in 2019 compared to 2018 and (iii) an increase in the Company's overall average interest rate resulting from the issuance of the Company's 7.5% Senior Notes due 2027 (the \"Senior Notes\") in the third quarter of 2019. Income Taxes. Income tax expense decreased $3.8 million, or 12%, to $28.3 million in 2019 from $32.1 million in 2018. For 2019, the eective tax rate was 24.0% compared to 21.2% in 2018. The increase in the effective tax rate in 2019 was mostly attiibutable to a decrease in excess tax benets on share-based compensation. For the full year 2020, the Company estimates its effective tax rate to be between 25% and 26%. See our Form 10K for the year ended December 31, 2018 for a discussion of our consolidated operating results for the year ended December 31, 2018 compared to 2017. Use of Financial Metrics Our 1VD)&A includes financial metrics, such as RV, marine and MB content per unit, which we believe are important measures of the Company's business perfomiance. Content per unit metrics are generally calculated using our market sales divided by third-party industry volume metrics. These metrics should not be considered alternatives to US. GAAP. Our computations of content per unit may differ from similarly titled measures used by others. These metrics should not be considered in isolation or as substitutes for an analysis of our results as reported under U.S. GAAP. 28 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Nature of Business Patrick Industries, Inc. ("Patrick" or the "Company") operations consist of the manufacture and distribution of component products and materials for use primarily by the recreational vehicle ("RV"), marine, manufactured housing ("MH") and industrial markets for customers throughout the United States and Canada. At December 31, 2019, the Company maintained 125 manufacturing plants and 48 distribution facilities located in 23 states, China, Canada and the Netherlands. Patrick operates in two business segments: Manufacturing and Distribution. Principles of Consolidation The accompanying consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The consolidated financial statements include the accounts of Patrick and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior year amounts have been reclassified to conform with current year presentation and such reclassifications are immaterial. In preparation of Patrick's consolidated financial statements as of December 31, 2019, management evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date of issuance of the Form 10-K to determine those requiring recognition or disclosure in the consolidated financial statements. Financial Periods The Company maintains its financial records on the basis of a fiscal year ending on December 31, with the fiscal quarters spanning thirteen weeks, with the first, second and third quarters ending on the Sunday closest to the end of the first, second and third 13-week periods, respectively. The first three quarters of fiscal year 2019 ended on March 31, 2019, June 30, 2019 and September 29, 2019. The first three quarters of fiscal year 2018 ended on April 1, 2018, July 1, 2018 and September 30, 2018. The first three quarters of 2017 ended on March 26, 2017, June 25 2017, and September 24, 2017. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Estimates include the valuation of goodwill and indefinite-lived intangible assets, the valuation of long-lived assets, the allowance for doubtful accounts, excess and obsolete inventories, the valuation of estimated contingent consideration and deferred tax asset valuation allowances. Actual results could differ from the amounts reported.General The Company completed the acquisitions discussed below during December 31, 2019, 2018 and 2017. The acquisitions were funded through cash on hand or through borrowings under the Company's credit facility in existence at the time of acquisition. Assets acquired and liabilities assumed in the individual acquisitions were recorded on the Company's consolidated statements of nancial position at their estimated fair values as of the respective dates of acquisition. For each acquisition, the Company completes its allocation of the purchase price to the fair value of acquired assets and liabilities within a one-year measurement period. For those acquisitions where the purchase price allocation is provisional, which includes only those acquisitions completed in 2019, the Company generally is still in the process of nalizing the fair values of acquired intangible assets, fixed assets, and, if applicable, contingent consideration and deferred tax assets and liabilities. In general, the acquisitions described below provided the opportunity for the Company in either establish a new presence in a particular market and/or expand its product offerings in an existing market and increase its market share and per unit content For each acquisition, the excess of the purchase consideration over the fair value of the net assets acquired is recorded as goodwill, which generally represents the combined value of the Company's existing purchasing, manufacturing, sales, and systems resources with the organizational talent and expertise of the acquired companies' respective management teams to maximize eiciencies, revenue impact, market share growth and net income. The goodwill recognized is expected to be deductible for income tax purposes for each of the acquisitions with the exception of the 2018 acquisition of Marine Accessories Corporation and the 2017 acquisition of Leisure Product Enterprises, LDC, for which goodwill is expected to be partially deductible for income tax purposes, and the 2019 acquisition of (3.6. Schmitt & Sons, Inc. and the 2018 acquisition of LaSalle Bristol, for which goodwill is not deductible for income tax purposes, Intangible asset values were estimated using income-based valuation methodologies. See Note 7 for information regarding the amortization periods assigned to acquired denite-lived intangible assets. For the years ended December 31, 2019, 2018 and 2017, revenue of approximately SE million, $249.3 million and $109.7 million, respectively, was included in the Company's consolidated statements of income pertaining to the businesses acquired in each such year. For the years ended December 31, 2019, 2018 and 2017, operating income of approximately fig million, 3E million and $E million1 respectively, was included in the Company's consolidated statements of income pertaining to the businesses acquired in each such year. Acquisition-related costs associated with the businesses acquired in 2019, 2018 and 2017 were immaterial. Contingent Consideration In connection with certain acquisitions, if certain financial targets for the acquired businesses are achieved, the Company is required to pay additional cash consideration, The Company records a liability for the fair value of the contingent consideration related to each of these acquisitions as part of the initial pm'chase price based on the present value of the expected futin'e cash ows and the probability of future payments at the date of acquisition, The liability for the contingent consideration is measured at fair value in subsequent periods, with the changes in fair value recorded in the consolidated statements of income. The aggregate air value of the contingent consideration as of December 3 1&19 was $g.6_million, $2._0 million of which is included in the line item "Accrued liabilitig" and SM million is included in \"Other longterrn liabilities\" on the consolidated stateth of nancial position. At December 31, 2018, the fair value was $ million, $4_.4 million of which was included in the line item "Accrued liabilities" _4 million was included in \"Other long-term liabilities\Property, plan! and Prepaid expenses &. (thousands) Trade receivables Inventories equipment other Intangible assets Goodwill Less: Total liabilities Less: Deferred taxes Total net assets acquired 2mm 5 Es is E: Es Es Es Es Es @ M was s Es Es _5s Es is :s is Es E comm E E 2 E E E E m E E : E EMCW _ E E Lasme E E _ (E ether 2 2 2 2018mm s 32,109 s 91,672 s s W s s 6 s s s Primary Markets Patrick manufactures and distributes its building products and interior decorative component products for use in the four primary markets it serves Operating facilities that supply the Company's products are strategically located in proximity to the customers they serve. The Company's sales by market are as follows: 6 2019 2018 RV 55% 63% Marine 14% 12% MB 19% 12% Industrial 12% 13% Total 100% 100% Recreational Vehicles The Company's RV products are sold primarily to major manufacturers of RVs, smaller OEMs, and to a lesser extent, manufacturers in adjacent industries, The principal types of recreational vehicles include (1) mwables: conventional travel trailers, h wheels, folding camping trailers, and truck campers; and (2) motorized: motor homes, The RV market is primarily dominated by Thor Industries, Inc. (\"Thor\"), Forest River, Inc (\"Forest River\") and Winnebago Industries, Inc, ("Winnebago\") which combined held 91% of retail market share for towables and 74% for motorized units as reported per Statistical Surveys, Inc, (\"$51") for 2019, The RV industry experienced a decline in wholesale unit shipments in 2019 and 2018 following eight straight years of growth as RV OEMs continued to adjust their production levels in tandem with the Iebalancing of dealer inventories in the retail marketplace According to the Recreation Vehicle Industry Association ("RVIA"), total RV industry wholesale shipments fell 16% in 2019 compared to 2018, with shipments reaching a total of approximately 406,000 units, The Company estimates that its mix of RV revenues related to towable units and motorized units is consistent with the overall RV industry production mix. In 2019, towable and motorized unit shipments represented approximately 89% and 11%, respectively, of total RV industry wholesale shipments, The towable sector decreased 16% in 2019 compared to the prior year and the motorized sector decreased 19% per the RVIA. With estimated retail unit shipments outpacing wholesale unit shipments in 2019, RV dealer inventories declined in 2019. On the retail side, estimated RV retail unit shipments declined 7% in 2019 compared to 2018. For the full year 2019, RV dealer inventories declined by more than 50,000 units, which we believe will position the industry to return to a more direct relationship between wholesale unit shipments and retail unit shipments for the upcoming 2020 selling season, Recreational vehicle purchases are generally consumer discretionary income purchases, and therefore, any situation which causes concerns related to discretionary income can have a negative impact on this market, The Company believes that industry- wide retail sales and the related production levels of RVs will continue to be dependent on the overall strength of the economy, consumer condence levels, equity securities market trends, uctuations in dealer inventories, the level of disposable income, and other demographic trends. Demographic and ownership trends continue to point to favorable market growth in the long term, as there is a shi toward outdoor, nature-based tourism activities, with a large segment of the population's \"millennials\" and \"Gen Xers\" embracing this outdoor lifestyle and entering into the RV marketplace as well as a large percentage of new campers from increasingly more diverse groups Per the 2019 KOA North American Camping Report, 41% of all campers and 56% of new campers are millennials, while 36% of all campers and 25% of new campers are Gen Xers. Detailed narrative information about the Company's sales to the RV industry is included in Item 7. \"Management's Discussion and Analysis of Financial Condition and Results of Operations\" (the "MD&A") of this Form 10-K. Marine The marine industry reects the similar active, outdoor leism'e-based, family-oriented lifestyle that characterizes the RV industry and the Company has increased its focus and expanded its presence in the adjacent marine market through recent acquisitions, particularly within the last three years. Consumer demand in the marine market is generally driven by the popularity of the recreational and leisure lifestyle and by economic conditions, 7 Based on current available data per SSI, within the powerboat sector, berglass units accounted for approximately 38% of retail unit sales, aluminum 29%, pontoon 28% and ski & wake 5% for 2019' According to the National Marine Manufacturers Association (\"NI/114A"), per its latest available 2018 US. Recreational Boating Statistical Abstract, it is estimated that there were approximately 12 million registered boats in the US. in 2018. Total US. retail expenditurm on boats, engines, accmsories, and related costs totaled approximately $41.8 billion in 2018, up approximately 7% from 2017. The average age of boats currently in use is approximately 25 years compared to an average useful life of 30 years, and the expected number of boats to be retired over the next four years is approximately 1 milom according to NMMA. The Company's sales to the marine industry are primarily focused on the powerboat sector of the market which is comprised of four main categories: berglass, aluminum, pontoon and ski KL wake Based on current available data per SSI, marine powerboat retail unit shipments decreased 4% in 2019 compared to 2018, while marine wholesale unit shipments decreased approximately 13% in 2019 compared to 2018, marking the first year of declines in retail and wholesale unit shipments after eight consecutive years of growth in new boat shipments Detailed narrative information about the Company's sales to the marine industry is included in the MD&A of this Form lO-Kt Manufactured Housing The Company's manufactured housing products are sold primarily to major manufactm'ers of manufactin'ed homes, other OEMs, and to a lesser extent, to manufacturers in adjacent industries. In the aggregate, the top three manufacturers produced approximately 78% of MH market retail unit shipments in 2019 per 581. Although wholesale unit shipments have increased in the MH industry Earn a low of approximately 49,800 units in 2009 to 94,633 units in 2019, they are still trending well below historical levels, The Company believes there is signicant upside potential for this market in the long term driven by pent-up demand, multi-family housing capacity, improving consumer credit and financing conditions, residential housing market conditions, higher consumer condence levels, increased affordability and quality, demographic trends such as rst time home buyers and those looking to downsize, new home pricing, and improved consumer savings levels. Factors that may favorably impact production levels further in this industry include improving quality credit standards in the residential housing market, new jobs growth, consumer condence, favorable changes in nancing regulations, a narrowing in the difference between interest rates on MH loans and mortgages on traditional residential "stick-built" housing, and any improvement in conditions in the asset-backed securities markets for manufactured housing loans, In addition, there have been changes in nancial regulations, including changes to the Dodd-Frank Wall Street Reform Act, in efforts to ease the regulatory burden on smaller financial institutions, as well as ongoing M'H loan program initiatives by Fannie Mae, which in turn are expected to increase MH loan availability and reduce the total cost of MH borrowing, with a potential resulting increase in MH demand. Detailed narrative information about the Company's sales to the MH industry is included in the MD&A of this Form 10-K. Industrial Mnrkem The Company estimates that approximately 60% of its industrial net sales in 2019 were associated with the US residential housing market. The Company believes that there is a direct correlation between the demand for its products in this market and new residential housing construction and remodeling activities. Patrick's sales to the industrial market generally lag new housing starts by four to six months and will vary based on differences in regional economic prospects. Many of Patrick's core manufacturing products are also utilized in the kitchen cabineL high-rise, oice and household furniture, hospitality, and xtures and commercial furnishings markets. These markets are generally 8 categorized by a more performance-thanprice driven customer base, and provide an opportunity for the Company to diversify its customer base. Additionally, other residential and commercial segments have been less vulnerable to import competition, and therefore, provide opportunities for increased sales penetration and market share gains. Over the past three years, the residential housing market in particular has shown signs of improvement across the country and that trend is expected to continue in 2020 Detailed narrative information about the Company's sales to the industrial markets is included in the MD&A of this Form 10-K. Strategic Acquisitions The Company is focused on driving growth in each of its primary markets through the acquisition of companies with strong management teams having a strategic t with Patrick's core values, business model and customer presence, as well as additional product lines, facilities, or other assets to complement or expand its existing businesses. The Company may explore strategic acquisition opportunities that are not directly tied to the four primary markets it serves in order to further leverage its core competencies in manufacturing and distribution and to diversify its end market exposure and presence. In 2019, the Company invested approximately $56 million in acquisitions and over the last three years has completed approximately $651 million of acquisitions. See Note 4 of the Notes to Consolidated Financial Statements for a description of acquisitions completed by the Company in 2019, 2018 and 2017. Major Product Lines Patrick manufactures and distributes a variety of products within its reportable segments including: Manufacturing Distribution Laminated products for furniture, shelving, walls and countertops Pre-finished wall and ceiling panels Decorative vinyl, wrapped vinyl, paper laminated panels and vinyl printing Drywall and drywall finishing products Solid surface, granite and quartz countertops Interior and exterior lighting products Fabricated aluminum products Wiring, electrical and plumbing products Wrapped vinyl, paper and hardwood profile mouldings Transportation and logistics services Custom cabinetry Electronics and audio systems components Electrical systems components including instrument and dash panels Cement siding Slide-out trim and fascia Raw and processed lumber Cabinet products, doors, components and custom cabinetry Fiber reinforced polyester ("FRP") products Hardwood furniture Interior passage doors Fiberglass bath fixtures and tile systems Roofing products Specialty bath and closet building products Laminate and ceramic flooring Boat covers, towers, tops, and frames Shower doors Softwoods lumber Furniture Interior passage doors Fireplaces and surrounds Wiring and wire harnesses Appliances CNC molds and composite parts Tile Aluminum fuel tanks Other miscellaneous products Slotwall panels and components RV painting Thermoformed shower surrounds Fiberglass and plastic components including front and rear caps and marine helms Polymer-based flooring Air handling products Marine hardware