2009 Annual Report for Polaris Industries

Topics: Generally Accepted Accounting Principles, Balance sheet, Revenue Pages: 4 (809 words) Published: March 23, 2013
1. Who audited Polaris’s financial statements for the year ended December 31, 2009? When was the independent auditor’s report signed?
Answer: Management’s internal control over financial reporting as of December 31, 2009 has been audited by Ernst & Young LLP. The independent auditor’s report was signed at March 1, 2010. Source: 2009 Annual Report for Polaris Industries, pages 40 and 72, respectively.

2. What dollar amount for net income was reported for the 2009 year? By what dollar amount did the net income increase or decrease compared to the previous year?
Answer: 2)The Financial Data reported an amount of $101.0 million in Net Income for the year 2009, ended in December 31.

Net Income Data For The Years Ended in December 31 Net Income 2009 2008 Change (in millions) 2009 vs. 2008 $101.0 117.4 -14%

Dollar amount= T2-T1= 117.4-101.0= 16.4 millions.

The Net Income decreased by 16.4 millions from 2008 to 2009. Source: 2009 Annual Report for Polaris Industries, page 30.

3. What time period does the 2009 consolidated statements of income cover for Polaris?
Answer: The 2009 consolidated statements of income cover from 2007, 2008 and 2009 for the years ended on December, 31. Source: 2009 Annual Report for Polaris Industries, pages 44.

4. How much cash flow did operating activities provide during each of 2009, 2008 and 2007?
Answer:
Consolidated statements of cash flow
2009 2008 2007 Net cash provided by...
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