Refer to Polaris’ financial statements in Appendix A for the following questions.

Required

1. What amount of total liabilities does it report for each of the fiscal years ended December 31, 2011 and 2010?

2. What amount of total assets does it report for each of the fiscal years ended December 31, 2011 and 2010?

3. Compute its debt ratio for each of the fiscal years ended December 31, 2011 and 2010. (Report ratio in percent and round it to one decimal.)

4. In which fiscal year did it employ more financial leverage (December 31, 2011 or 2010)? Explain. Fast Forward

5. Access its financial statements (10-K report) for a fiscal year ending after December 31, 2011, from its Website (Polaris.com) or the SEC’s EDGAR database (www.sec.gov). Recompute its debt ratio for any subsequent year’s data and compare it with the debt ratio for 2010 and 2011.