Using Exhibit 12-9

as a guide, compare C&C Sports€™ performance to the industry averages. What particular observations and recommendations do you have for George Douglas, president of C&CSports?

2011 2010 2009 2008 2007 Select Common-Size Percentages: Cash & equivalents Trade receivables, net Inventory Property and equipment Short-term debt Trade payables Long-term debt Stockholders' equity 10.4% 25.2% 38.0% 11.9% 14.7% 16.3% 8.0% 42.1% 34.1% 28.4% 5.6% 4.8% 69% 22.4% 40.2% 13.7% 16.9% 15.9% 11.6% 42.7% 31.4% 26.9% 45% 8.0% 23.1% 41.2% 13.5% 17.5% 10.1% 39.7% 37.7% 31.4% 6.3% 5.7% 8.4% 22.0% 41.2% 13.3% 16.2% 15.2% 12.2% 33.2% 36.3% 32.0% 4.3% 3.8% 93% 24.6% 38.7% 13.6% 13.6% 17.6% 11.2% 39.2% 34.6% 28.9% 5.7% 4.9% Gross profit Operating expenses Operating income Income before taxes Select Ratios Current ratio Quick ratio (Acid test) Average 2011 2010 2009 2008 2007 collection 33.2 days 5.1 times 63% 75% 95% 35.6 days 5.4times 292% 31.8 days 7.0 times 36.6% 3.1% 40% 37.6 days 6.2 times 55.1% 0.4% 40.9 days 6.6 times 61.1% 7.3% 12.1% period Inventory turnover (based on sales) Debt-to-equity Return on assets Return on 12.3% Risk Management Association's 2012/2013 Annual Statement Studies: Financial Ratio Benchmarks, NCAIS 315299 Industry median ratio, from Dun & Bradstreet's Industry Norms & Key Business Ratios, 2007-2008, 2008-2009, 2009-2010, 2010-2011, and 2011-2012 editions, SIC 2329