ocean manufacturing，Inc.

Net Sales – totaled $4,485,000.00 for year 6, and grew +33.3% or $1,495,000.00 between years 6 to 7.

Retailing building supply stores have become a popular retail industry sector due to increased public awareness and the need of many homeowners for the home improvement products. Back in the 1970s, long before warehouse stores ruled home improvement land, do-it-yourselfers shopped at “home centers.” These 30,000 square foot stores offered cheaper prices and wider selection of products, about 25,000 more than local hardware stores and eliminated the extra trip to the lumberyard. The dependence of many of these retailers upon the homebuilding industry for much of their business has also been reduced and the warehouse superstores, such as Home Depot, have become more important. The smaller companies in the

The retail market for home décor is very competitive. There are a variety of stores and catalog retailers that offer similar merchandise. Major players in the industry include Bed, Bath & Beyond, Cost Plus, World Market, and Williams-Sonoma. Specialty sections of large department stores also provide competition. Opportunities in retail home décor include attracting viewers from television networks, specializing in home décor. Home & Garden (HGTV) and the Do it Yourself (DIY) network are two examples of networks that encourage interior home design by the novice. Retail home décor products are often featured on television networks which provide a way to market their merchandise to consumers. Threats to the industry include an increasing number of home décor retailers that provide competition. In addition, wholesale clubs contain home décor departments which have a tendency towards lower prices. The current energy crisis, sub-prime mortgage debacle, and increasing unemployment rates also pose a threat to the industry.

Auditing I | ACG 4632.591S15 Assignment 1 Landon Graber Maya Pham Melanie Pratt Robin Michael Schneider LILTS BERGER & ASSOCIATES 4-1 Certified Public Accountants CW 11/23/2015 Ocean City, Florida 33140 October 30, 2015 Mr. Donald Phillips, President 36 Clearwater Lake Road Ocean City, Florida 33140 Dear Mr. Phillips: This letter is to confirm our understanding of the terms of our engagement as the auditors of Ocean view Marine Company for the year ended December 31, 2015. Services and Related Report As you have requested, we will audit the financial statements of Oceanview Marine Company, which comprise the balance sheet for December 31, 2015, and the related statements of income, changes in stockholders’ equity, and cash flows

| D. Cameron HydeGary R. KabureckJohn M. KellyJames H. LeskoJule E. Limoli (m)Douglas C. LordJohn E. McDermottIvy Thomas McKinney(f,m)Patricia M. Nazemetz (f)Shaun W. PantlingRhonda L. Seegal (f)Sophie V. VanebroekLeslie F. VaronDouglas H. MarshallCarol A. McFate

Alexander, C. N., Schneider, R. H., Staggers, F., Sheppard, W., Clayborne, B. M., Rainforth, M., Egan, B. (1996).

Breiding, Matthew J., Sharon G. Smith, Kathleen C. Basile, Mikel L. Walters, Jieru Chen, and

C. Logan Chullen, Benjamin B. Dunford, Ingo Angermeier, R. Wayne Boss, and Alan D. Boss

Internet sales are growing rapidly within the industry, and amongst all retail, eventually they might start to see Amazon as a major competitor. Stores like Home Depot and Lowe's have interactive websites, with the ability purchase items not seen in stores, how to guides, project ideas, and quotes for specific jobs. Trends in the industry are moving to more green products, private label and exclusive brands, more interactive retail experience with new payment options. This would utilize modern technology to increase sales. Demand which has been driven by home remodeling and building doesn’t fluctuate too much, typically minor shifts within the economic cycles.

MasterCraft Boat Company vision statement is to be the world's leading manufacturer of water sports boats in terms of initial quality and market share. Its mission statement is to be committed to improving the boating experience of its customers, by delivering innovations that improves enjoyment on the water, and offering products that promote rapid development of skills, generating memories that last a lifetime. MasterCraft was founded in 1968 and soon became recognized as a major force in the tournament ski boat market. Today Mastercraft employs over 400 people and is the largest producer of inboard ski, wakeboard and luxury performance powerboats in the world. It sells boats in over 30 different countries and has over 130 domestic and international dealers.

within the industry. The trends relate to what products are available, who and how they are

• Focus on growing core brands across categories, reaching out to new geographies, within and outside India, and improve operational efficiencies by leveraging technology.

With an earnings in the most recent year of $644,000 it appears that the company is going to be able to cover these costs as long as they continue to grow and reduce the costs.

th century they had operations throughout 31 countries of the world. In 1978 Company had financial loss of US. $262.2 million .

▪ Founded 1984 ▪ 2009 Revenue: $11.1 billion ▪ 2009 Net Income: $1.89 billion ▪ Employees: 12,000