Review Case 12.21 in your textbook. Share your observations and recommendations for the company based on the data provided. Please review the posts of your classmates before responding to Case 12.21; provide responses that are different than what your classmates' have posted and recommended.

Please include proper citations in your discussion post. Points will be deducted if proper citations are not used.

12.21 (LO 1, 2, 3, 4) Comprehensive Financial Statement Analysis Using 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?

Select Common-Size Percentages: 2017 2016 2015 2014 2013 2012

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%

Inventory38.7% 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 debt14.0% 14.9% 12.0% 13.4% 14.3% 13.7%

Trade payables12.7% 14.2% 15.7% 16.8% 17.1% 17.1%

Long-term debt12.6% 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 profit39.4% 38.4% 36.6% 34.9% 35.2% 37.6%

Operating expenses35.2% 32.3% 31.0% 29.8% 30.9% 31.3%

Operating income4.2% 6.1% 5.6% 5.1% 4.3% 6.3%

Income before taxes3.4% 5.3% 4.8% 4.3% 3.3% 5.7%

Select Ratios: 2017 2016 2015 2014 2013 2012

Current ratio2.0 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-equity1.6 1.6 1.4 1.2 1.8 1.4

Return on assets26.2% 6.2% 6.1% 5.5% 6.9% 9.1%

Return on stockholders equity216.9% 15.6% 15.0% 15.8% 18.6% 28.1%1

PLEASE ANSWER THE QUESTION CORRECTLY OR YOU WILL BE DOWN SCORED. Use the data to answer the question. THANK YOU.