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C&C Sports Continuing Case - (L0 1, 2, 3, 4} Comprehensive Financial Statement Analysis Using...

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Accounting

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C&C Sports Continuing Case - (L0 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? Eli-1H IEIT 12.5 C&C Sports industry data 2017 2016 2015 Select CommonSize Percentages: 1 Cash & equivalents 6.6% 11.0% 10.2% Trade receivables, net 21.9% 20.2% 21.4% Inventory 38.7% 36.4% 37.6% Property and equipment 13.9% 12.5% 13.1% Shortterm debt 14.0% 14.9% 12.0% Trade payables 12.7% 14.2% 15.7% Longterm debt 12.6% 10.9% 8.7% Stockholders' equity 35.3% 41.3% 42.7% Gross prot 39.4% 38.4% 36.6% Operating expenses 35.2% 32.3% 31.0% Operating income 4.2% 6.1% 5.6% Income before taxes 3.4% 5.3% 4.8% Select Ratios: 2017 2016 2015 Current ratio 2.0 1.9 2.2 Quick ratio {Acid test) 0.8 0.9 0.8 Average collection period 36 days 32 days 36 days Inventory turnover 3.2 times 3.3 times 3.6 times Debttoequitg.r 1.6 1.6 1.4 Return on assetsz 6.2% 6.2% 6.1% Return on stockholders' equity2 16.9% 15.6% 15.0% IRisk Management Association's 201312018 Annual Statement Studies: Financial Ratio Benchmark, NCAIS 315280. 2Based on income before taxes rather than net income

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