You prepared below BMC Assignment (provide below). Please make an overview of it with three (3) big takeaways that you have learned while going through this writing BMC project. Please be thorough in your responses and use the textbook Neck, C., Murray, E., & Neck, H. (2020). Entrepreneurship: The Practice and Mindset (2nd). Sage, Thousand Oaks, CA. and two other library resource to support your writing. BMC Assigment: The construction industry is a significant contributor to America's economic well-being. It encompasses different services, including designing, constructing, repairing, renovating, or rebuilding. It has both privately held and publicly traded firms. Founders, private investors, or management own private companies, while publicly traded firms are those that have offered all or a part of them to interested investors through an IPO - initial public offering (Majaski, 2022). In other words, a public company trades its stocks on a public platform - an exchange market - and any investor can become a shareholder by buying shares. According to Neck et al. (2020), selling shares to get cash is known as equity financing. Three publicly traded firms in the construction industry competing against each other include Granite Construction Incorporation, Fluor Corporation, and Jacobs Solutions Inc. All publicly traded firms offer their stocks for sale in an exchange market. A unique ticker, letter, or group of letters identifies the stocks for trading reasons. Jacobs Solutions Inc. sells its stock on the New York Stock Exchange. Its stock's ticker is J. Jacobs Solutions Inc.'s financials entail the income statement, balance sheet, and cash flow. An income statement helps measure the financial performance of a firm on a yearly or monthly basis (Neck et al., 2020). On the other hand, the balance sheet shows what the firm owns, owes, and shareholders' stake, while the cash flow outlines money flows in and out of the company in a given period. Jacobs Solutions Inc.'s Income Statement Figure 1 Jacobs Solutions' income statement (continued in Figure 2) Note: Yahoo Finance (2023), retrieved from https://finance.yahoo.com/quote/J/financials?p=J Figure 2 Jacobs Solutions income statement, a continuation of Figure 1 Note: Yahoo Finance (2023) retrieved from https://finance.yahoo.com/quote/J/financials?p=J Jacobs Solutions Inc.'s Balance Sheet Figure 3 Jacobs Solutions balance sheet Note: Yahoo Finance (2023) retrieved from https://finance.yahoo.com/quote/J/balance-sheet?p=J Jacobs Solutions Inc.'s Cash Flow Figure 4 Jacobs Solutions cash flow Note: Yahoo Finance (2023) retrieved from https://finance.yahoo.com/quote/J/cash-flow?p=J Jacobs Solutions Inc. has a website providing its financial reports under the webpage - "Jacobs Annual Reports." The webpage is available at https://www.jacobs.com/about/annual-reports. "Jacobs Annual Reports" lists the company's financials from the most recent and avails them in a downloadable format. The company's 2022 integrated yearly report provides financial highlights in a consolidated income statement. The report indicates the revenue the company has earned and the underlying components. It also outlines the firm's per-share details, total assets, and stakeholders' income. From the report, the company recorded a revenue of $14,922,825,000 as of 2022 September 27 (Jacobs, 2022). The company's revenue, operating profit, and net earnings from continuing operations increased consistently from 2020 through 2022 (See Figure 5). The company's annual reports do not provide additional financial statements. Figure 5 Jacobs Solutions integrated income statement from its website Financial analysis helps determine how healthy a firm is in monetary terms. It helps assess the firm's value, which the investor and entrepreneur can use to negotiate ownership and equity percentage (Neck et al., 2020). Ratios come in handy in establishing the financial position of a company. They use the various line items in a company's financial statements. Some significant financial ratios include the current ratio, total asset turnover, and debt-to-asset ratio. Current Ratio The current ratio measures the liquidity of a firm. It helps assess the number of times a company can cover current obligations (Carlson, 2022). It is obtained by dividing short-term assets by current liabilities. Jacobs current ratio = 4,721,994,000 / 3,250,845,000 = 1.4525 (1.45), indicating that the company has more current assets than short-term obligations. Hence, it can sufficiently use its liquid assets to settle current debts. Total Asset Turnover The overall asset turnover is a management ratio. It assesses the efficiency of utilizing assets to generate sales (Carlson, 2022). It is calculated by dividing sales by total assets. Jacobs total asset turnover = 14,922,825,000 /14,660,419,000 = 1.0179 (1.02), showing that the company efficiently uses its assets to generate sales. Debt-to-Asset Ratio Debt-to-asset is a leverage ratio. It measures the asset's level financed through debts (Carlson, 2022). It is obtained by dividing total liabilities (debts) by the total assets. Jacobs debt-to-asset ratio = 7,923,505,000 / 14,660,419,000 = 0.5405 (0.54), indicating that Jacobs Solutions Inc. finances approximately half of its assets using debts. Jacobs Solutions Inc.'s projected income statement and balance sheet for 2023 are indicated in Figures 6 and 7. Figure 6 Jacobs Solutions Inc.'s projected 2023 income statement Figure 7 Jacobs Solutions Inc.'s projected 2023 balance sheet From the projected financial statements, the company's current ratio, total asset turnover, and debt-to-asset ratio are as shown: Projected Current Ratio Jacobs projected current ratio = 4,595,850,000 / 3,256,100,000 = 1.41, signifying that Jacobs' current assets will be adequate to cover emergent obligations in 2023. Projected Total Asset Turnover Jacobs total asset turnover = 15,722,825,000 /13,536,150,000 = 1.1615 (1.16), denoting that the firm will use its assets efficiently to create revenue in 2023. Projected Debt-to-Asset Ratio Jacobs debt-to-asset ratio = 7,931,700,000 / 13,536,150,000 = 0.586 (0.59), revealing that, in 2023, the company will finance a significant portion of its assets (more than half) using debts. My venture, Solion Remodeling Inc. can learn fundamental financial planning lessons from leading companies in the construction industry like Jacobs Solutions Inc. Jacobs Solutions Inc.'s financial analysis using financial ratios indicates that the company is liquid, efficient, and uses debts moderately. The results show that a firm can observe due diligence by strategizing and planning regarding using funds. Due diligence entails carefully assessing an investment before making the final decision (Neck et al., 2020). The analysis suggests that Solion Remodeling Inc. should strive to maintain a higher level of current assets than short-term obligations to remain liquid. Liquidity will allow my firm to pay for short-term loans without additional borrowing or going through the hustles and bustles of converting a non-current asset into quick cash. Using a fixed resource to pay for due obligations would lead to losses, negatively impacting the company's present and future existence. Besides, maintaining liquidity will help the start-up firm control and minimize inadvertent borrowing. Moreover, the evaluation provides that Solion Remodeling Inc. should endeavor to maximize the utilization of assets to optimize sales. The efficiency of using available assets influences the level of revenue. In addition, Jacobs Solutions Inc.'s debt-to-asset ratio shows that Solion Remodeling Inc. should reduce the use of debts to finance assets and only do it when necessary. However, this does not overrule the significance of loans in helping firms make an urgent investment or manage an emergency that may hinder daily operations. links for reports( pictures) https://www.jacobs.com/sites/default/files/2023-01/2022_Integrated_Annual_Report_0.pdf https://finance.yahoo.com/quote/J/financials?p=J