Use Finish Line's Form 10-K filed on April 26, 2016 from the SEC's website to answer the following questions:

https://www.sec.gov/Archives/edgar/data/886137/000088613716000072/finl201610k.htm

Assume Finish Line purchased $334,749 of Inventory during the 1^stquarter of fiscal year 2017. Use the gross profit method to estimate the value of ending inventory for quarter 1 (5/28/2016). (assume sales equal 453,515 for the quarter).

What is the value of Finish Line's property, plant, and equipment at 2/27/2016? What are the estimated useful lives of their assets? How might a user assess the appropriateness of the estimated useful lives?How much cash was used to purchase property, plant, and equipment in 2014, 2015, 2016? Why did it decline in 2016 and does that tell us anything about the future?Compute Finish Line's fixed asset turnover for 2016 and 2015 (assume 2014 PPE equaled $223,182). What does this ratio tell you? What does the change reveal about Finish Line?Assume Finish Line decided to sell some material handling equipment that was 4 years old for $10M (assume the original cost was $30M and they depreciated it for 7 years, assuming a $2M salvage value). Prepare the journal entry that records the sale. How would this transaction flow through the financial statements?

Financial Statement Analysis Use Finish Line's Form 10-K filed on April 26, 2016 from the SEC's website to answer the following questions: https://www.sec.gov/Archives/edgar/data/886137/000088613716000072/finl201610k.htm 1. Assume Finish Line purchased $334,749 of Inventory during the 1 st quarter of fiscal year 2017. Use the gross profit method to estimate the value of ending inventory for quarter 1 (5/28/2016). (assume sales equal 453,515 for the quarter). 2. What is the value of Finish Line's property, plant, and equipment at 2/27/2016? What are the estimated useful lives of their assets? How might a user assess the appropriateness of the estimated useful lives? 3. How much cash was used to purchase property, plant, and equipment in 2014, 2015, 2016? Why did it decline in 2016 and does that tell us anything about the future? 4. Compute Finish Line's fixed asset turnover for 2016 and 2015 (assume 2014 PPE equaled $223,182). What does this ratio tell you? What does the change reveal about Finish Line? 5. Assume Finish Line decided to sell some material handling equipment that was 4 years old for $10M (assume the original cost was $30M and they depreciated it for 7 years, assuming a $2M salvage value). Prepare the journal entry that records the sale. How would this transaction flow through the financial statements