accounting project 495173

Instructions The Objective of this Project is for you to learn to read, interpret and analyze the financial statements of a company. You will be given an opportunity to practice these skills during class and homework throughout the term. Where applicable, each answer you present should be referenced to your company’s Financial Statements, audit report and/or notes to the financial statements by page number. If your financial statements are not numbered, please number them yourself. You may use thousands or millions of dollars if that is the presentation on your Financial Statements. Student Name ________________ Student number _________________ Company name __________________________________ Selected Industry Averages for the assigned companies are as follows: Ratio Shoppers Drug Mart George Weston Groupe BMTC Inc Plaintree Systems Current ratio 1.28 to 1 1.02 to 1 1.15 to 1 0.87 to 1 Quick Ratio 0.84 to 1 0.88 to 1 0.97 to 1 0.45 to 1 Inventory Turnover 12.65 times 19.37 times 11.81 times 2.48 times Number of days sales in inventory 28.9 days 18.8 days 30.9 days 147.2 days Accounts receivable turnover 52.27 times 185.85 times 18.03 times 5.48 times Number of days sales in account receivable/average collection period 7 days 1.96 days 20.2 days 66.6 days Gross profit margin ratio 17.27% 35.54% 39.23% 32.68% Using the results for your company’s most recent year end (unless otherwise indicated), please answer the following questions: 1a. Most recent fiscal year end noted on the financial statements assigned to you (ie December 31, 2012)______________________________ 1b. What period does the company’s year end cover?/ On what dates does the company’s most recent fiscal year start and end? Start______________________________________ End ______________________________________ 1c. In your own words explain what permanent and temporary accounts are and give an example of each that is shown on your…