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 https://www.sec.gov/ix?doc=/Archives/edgar/data/76605/000007660520000046/patk12-31x1910xk.htm#s47AB7E3C67715788AD3DEEBC9BC47C2C

1)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?

2)What is the company doing to create an overall brand name?Describe this in detail.

3) 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.

ITEM 6. SELECTED FINANCIAL DATA As of or for the Year Ended December 31 2019 2018 2017 2016 2015 (thousands except per share amounts) Operating Data: Net sales (1) 2,337,082 $ 2,263,061 $ 1,635,653 $ 1,221,887 $ 920,333 Gross profit 422,871 415,866 278,915 202,469 152,279 Operating income (1) 154,442 178,415 121,900 90,837 69,918 Net income 89,566 119,832 85, 718 55,577 42,219 Basic net income per common share $ 3.88 $ 4.99 $ 3.54 $ 2.47 $ 1.84 Diluted net income per common share 3.85 4.93 EA 3.48 $ 2.43 $ 1.81 Cash dividends paid per common share 0.25 $ Financial Data: Total assets (1) (2) $ 1,470,993 $ 1,231,231 $ 866,644 $ 534,950 $ 381,584 Cash and cash equivalents 139,390 ,895 2,767 5.449 Total short-term and long-term debt (3) 87 705,000 661,082 354,357 273,153 204,484 Shareholders' equity 497,481 408,754 370,685 185,448 128,597 Cash flows from operating activities 192,410 200,013 99,901 97,147 66,856Year Ended December 31, 2019 Compared to 2018 Net Sales. - in 2019 increased approximately $740 million or 3%, to $2.34 billion 'om $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 om the industrial markets, partly o'set 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 of 2018. The consolidated net sales decrease from the RV industry in 2019 primarily reected decreases in RV OEM wholesale unit shipments In 2019 and 2018, revenue attributable to acquisitions completed in each of those periods was $83 million and $2493 million, respectively. The Company's RV content per wholesale unit for 2019 increased 7% to $3,170 from $2,965 in 20181 Marine powerboat content per retail unit for 2019 increased 26% to an estimated $1,581 'om $1,256 in 20181 The M1-[ content per wholesale unit for 2019 increased 62% to $4,616 from $2,849 in 2018. Cost of Goods Sold. Cost of goods sold increased $67.0 million, or 4%, to $15 billion in 2019 from $1.8 billion in 2018. As a percentage of net sales, cost of goods sold increased during 2019 to 81.9% from 81.6% in 2018. Cost of goods sold as a percentage of net sales was impacted during 2019 by: (i) higher overall xed overhead costs relative to RV and marine revenue and (ii) the lower margin prole of LaSalle, which was acquired in the fourth quarter of 2018. In general, the Company's cost of goods sold percentage can be impacted by demand changes in certain market sectors that can result in uctuating costs of certain raw materials and commodity-based components that are utilized in the production of our products. Gross Prot. Gross prot increased $7.0 million or 2%, to $42219 million in 2019 from $4153 million in 20181 As a percentage of net sales, gross prot decreased to 18.1% in 2019 from 18.4% in 2018. The decrease in gross prot as a percentage of net sales in 2019 compared to 2018 reects the impact of the factors discussed above under \"Cost of Goods Sold". 27 Economic or industry-wide factors aecting 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-to-year. 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 volumes 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 trequency, and as a result transportation costs relative to sales levels of products delivered increased as a percentage of net sales. Selling, General and Administrative ("SG&A") Expenses. SG&A expenses increased 36.3 million, 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 Intangihle 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 6.6% 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 'om $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 LBOR 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 75% 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 effective tax rate was 24.0% compared to 21.2% in 2018. The increase in the effective tax rate in 2019 was mostly attributable 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 MD&A includes nancial metrics, such as RV, marine and MH content per unit, which we believe are important measures of the Company's business performance 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. Year Ended December 31, 2019 Compared to 2018 Manufacturing Sales. Sales decreased $105.6 million, or 6%, to $1.67 billion from $1.78 billion in 2018. This segment accounted for approximately 70% and 77% of the Company's consolidated net sales in 2019 and 2018, respectively. The sales decrease primarily reected a decrease in revenue from of the Company's RV market. In 2019 and 2018, revenue attributable to acquisitions completed in each of those periods was $8.3 million and $150.9 million, respectively. Gross Prot. Gross prot decreased $30.1 million, or 9%, to $307.4 million in 2019 from $337.5 million in 2018. As a percentage of sales, gross prot decreased to 18.4% in 2019 from 19.0% in 2018. The overall decrease in gross prot dollars and as a percentage of sales reected higher overall fixed overhead costs relative to RV and marine revenue in 2019, Operating Income. Operating income decreased $40.3 million, or 19%, to $174.9 million in 2019 from $215.2 million in 2018. Operating income attributable to acquisitions completed in 2019 and 2018 was $0.9 million and $18.5 million, respectively. The decrease in operating income primarily reects the decrease in gross prot mentioned above. Distribution Sales. Sales increased $178.0 million, or 34%, to $699.2 million in 2019 from $521.2 million in 2018. This segment accounted for approximately 30% and 23% of the Company's consolidated net sales for 2019 and 2018, respectively The sales increase largely reected the revenue contribution from the acquisition of LaSalle. The businesses acquired in 2018 contributed $98.4 million to total sales in the Distribution segment in 2018. There were no Distribution segment acquisitions in 2019. Gross Prot. Gross prot increased $30.0 million, or 37%, to $111.0 million in 2019 from $81.0 million in 2018. As a percentage of sales, gross prot was 15.9% in 2019 compared to 15.5% in 2018. The increase in gross prot as a percentage of sales for 2019 reected the contribution of increased sales in our higher margin transportation business and the positive impact of leveraging xed costs on higher sales volumes in our other distribution businesses, partially offset by the lower gross margin prole of LaSalle, which was acquired in the fourth quarter of 2018, compared to our other distribution businesses. Operating Income. Operating income in 2019 increased $7.5 million, or 24%, to $39.0 million from $31.5 million in 2018. The businesses acquired in 2018 contributed approximately $4.7 million to operating income in the Distribution segment in 2018. The overall net improvement in operating income in 2019 primarily reects the items discussed above. Unauncated Corporate Expenses As presented in Note 19 to the Consolidated Financial Statements, unallocated corporate expenses in 2019 decreased 3 10.6 million, or 31%, to $23.5 million om $34.1 million in 2018. The decrease in 2019 was mostly attributed to a decrease in professional fees, administrative wages and incentive compensation, QQUIDITYAND CAPITAL RESOURCES The Company's primary sources of liquidity are cash ow from operations, which includes selling its products and collecting receivables, available cash reserves and borrowing capacity available under its credit facility, Principal uses of cash are to support working capital demands, meet debt service requirements and support the Company's capital allocation strategy, which includes acquisitions, capital expenditures, dividends and repurchases of the Company's common stock, among others. 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 hardwarePrimary 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 55% 53% RV 14% 12% Marine 19% 12% MH 12% 13% Industrial 100% 100% Total