ACC 110 Lecture Notes - Lecture 5: Convenience Store, Net Income, Financial Statement
Document Summary
The kenaston convenience store (kcs) is a local convenience store located near a subdivision in regina. Kcs opened about three years ago and is owned and operated by the wu family. It is cml"s usual practice to only move into an area once the population density has reached a certain level. It prefers to buy out an existing convenience store in an area because it gets the benefit of an established location and eliminates a competitor. It"s your job to make contact with the owners of established convenience stores that cms might be interested in and evaluate their suitability for acquisition. Your preliminary evaluation of kcs is that it is a potential candidate for acquisition and your initial discussions with mr. wu were favourable. Mr. wu has agreed to allow you to look at kcs"s most recent income statements. Income statements for the years ended march 31.