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Take a step back in time and imagine polaris

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Reference no: EM13900168

Take a step back in time and imagine Polaris in its infancy as a company. The year is 1954. 

Required:
1. Read the history of Polaris at www.Polaris.com. Identify the founder of the company. 
2. Assume that Polaris was originally organized as a partnership. Polaris income statement in Appendix A varies in several key ways from what it would look like for a partnership. Identify at least two ways in which a corporate income statement differs from a partnership income statement. 
3. Compare the Polaris balance sheet in Appendix A to what a partnership balance sheet would have shown. Identify and explain any account differences we would anticipate.

Reference no: EM13900168

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