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Exhibit 12.9 as a guide, compare C&C Sports' performance to the industry averages. What particular observations and recommendations do you have for George Douglas, president of C&C Sports?

Exhibit 12.9

2017 2016 2015 2014 2013 2012

Select Common-Size Percentages:

Cash & equivalents 6.6% 11.0% 10.2% 9.6% 7.2%. 7.9%

Trade receivables, net 21.9% 20.2% 21.4% 25.7% 24.3% 25.0%

Inventory 38.7% 36.4% 37.6% 36.7% 41.0% 40.5%

Property and equipment 13.9% 12.5% 13.1% 11.9% 13.2% 10.7%

Short-term debt 14.0% 14.9% 12.0% 13.4% 14.3%. 13.7%

Trade payables 12.7% 14.2% 15.7% 16.8% 17.1% 17.1%

Long-term debt 12.6% 10.9% 8.7% 6.9% 11.8% 9.6%

Stockholders' equity 35.3% 41.3% 42.7% 42.3% 35.2% 40.3%

Gross profit 39.4% 38.4% 36.6% 34.9% 35.2% 37.6%

Operating expenses 35.2% 32.3% 31.0% 29.8% 30.9% 31.3%

Operating income 4.2% 6.1% 5.6% 5.1% 4.3% 6.3%

Income before taxes 3.4% 5.3% 4.8% 4.3% 3.3% 5.7%

Select Ratios: 2017 2016 2015 2014 2013 2012

Current ratio 2.0 1.9 2.2 2.0 2.0 1.8

Quick ratio (Acid test) 0.8 0.9 0.8 0.7 0.7 0.7

Average collection period 36 days 32 days 36 days 38 days 37 days 36 days

Inventory turnover 3.2 times 3.3 times 3.6 times 4.1 times 3.5 times 3.9 times

Debt-to-equity 1.6 1.6 1.4 1.2 1.8 1.4

Return on assets 26.2% 6.2% 6.1% 5.5% 6.9% 9.1%

Return on stockholders' equity 216.9% 15.6% 15.0% 15.8% 18.6% 28.1%1