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2017101223394720171011194809eca 4 3

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Subject
Accounting
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Homework
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The following are the items that are to be addressed by the reviewer:
· Correct page reference(s) (Were the correct pages within the notes section presented?)
· Direct link via the url provided by the presenter (Did the presenter post the correct direct link via the url provided?)
· Provide the calculations for "selected" ratios that were presented (Selected means that you should locate the ratios that are addressed
by the presenter as having had a significant financial event. Then present your calculations to verify that these ratios were in fact correctly
calculated.) Do not, under any circumstance present the calculations for all ratios presented. At most, I would expect to see only four ratio
calculations out of the 40 values presented.
· Remember that as the reviewer, you are using source material and must also document your source consulted. (Provide page numbers
and citations)
Here is an example on how it could look like:
Correct page reference(s):
Pages cited in notations were correct for the information presented.
Direct link via url provided by the presenter:
The source urls used in the bibliography were accurate and efficiently directed the user to the correct SEC 10K reports.
Provide the calculations for "selected" ratios that were presented (Selected means that you should locate the ratios that are addressed by the
presenter as having had a significant financial event. Then present your calculations to verify that these ratios were in fact correctly calculated.)
Do not, under any circumstance present the calculations for all ratios presented. At most, I would expect to see only four ratio calculations out of
the 40 values presented.
Calculations regarding the ratios presented for Inventory Turnover Cycle:
2016: ITO = $446,776/(($52,499 + $56,462)/2) = 8.2 times (2016, p40 & 41)
2015: ITO = $458,317/(($56,462 + $51,307)/2) = 8.5 times (2016, p40 & 41 and 2014 p37 & p38)

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2014: ITO = $437,996/(($51,307 + $56,397)/2) = 8.1 times (2014, p37 & 38)
2013: ITO = $354,131/(($56,397 + $44,361)/2) = 7.0 times (2013, p34 & 35)
And here is all information you need to review:
Ratios
2016
2015
2014
2013
Profit Margin
0.4%
0.4%
0.4%
0.5%
Gross Profit Margin
9.2%
9.3%
9.0%
8.3%
Current Ratio
2.2.
2.1
2.1
2.0
Quick Ratio
1.1
1.0
1.1
1.1
Working Capital (dollars in thousands)
$1,496,718
$1,142,269
$1,086,624
$1,359,317
Accounts Receivable Turnover (times per year)
1.2
1.2
1.2
1.2
Accounts Receivable Days Outstanding (days)
3.2
3.0
2.9
3.1
Inventory Turnover (times per year)
1.25
1.31
1.47
1.33
Days of Inventory (days)
2.9
2.8
2.6
2.8
Operating Cycle (days)
4.2
4.2
4.2
4.2
(Note 1 & 2)
(Note 1 & 2)
(Note 1 & 2)
(Note 1 & 2)
Note 1: 2016, p18
Note 2: 2015, p20
Significant Observation:
The highest increase in Gross Profit Margin was from 2013 to 2014.
Cause of Significant Observation:
Gross profit increased $1,201,467 from 2013 to 2014 (2015, p20)

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The following are the items that are to be addressed by the reviewer: · Correct page reference(s) (Were the correct pages within the notes section presented?) · Direct link via the url provided by the presenter (Did the presenter post the correct direct link via the url provided?) · Provide the calculations for "selected" ratios that were presented (Selected means that you should locate the ratios that are addressed by the presenter as having had a significant financial event. Then present your calculations to verify that these ratios were in fact correctly calculated.) Do not, under any circumstance present the calculations for all ratios presented. At most, I would expect to see only four ratio calculations out of the 40 values presented. · Remember that as the reviewer, you are using source material and must also document your source consulted. (Provide page numbers and citati ...
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