Finance Question

Background Information. Based on the information provided to you in the case, write a couple of paragraphsabout the company, its management and the industry identifying the main business activities, majorcompetitors and any significant developments during this period. In two other paragraphs briefly describe theprimary factors that affect the industry in which JLC’s sales are concentrated. For this last part, you can usetwo of the industry publications that are listed in chapter 5 of the Gibson textbook. (10 points)
2. Spread the four full years of financial statements and the interim report. This means that you need totransfer the financial data given to you in the case to the Excel “Spreadsheet Joyner Lumber Case” that isbeen provided to you. The spreads include the common-size income statement, the common-size balancesheet and the ratio worksheet. As the interim report covers only four months, any ratio calculations that utilizeincome statement information will need to be adjusted. For example, to calculate return on assets you need to “annualize” net income i.e. multiply the four-month net income by three to
have an annual figure. The balance sheet data do not need any adjustments. A couple of things that you needto take into account when transferring the data:
a. Notes payable to banks and others represent mortgage notes payable which call for $14,000 of principalpayments annually. Therefore, this amount should be shown as current maturities and the remaining balance as long-term debt.
b. Included in general and administrative expenses are depreciation

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