If we look at the actual inventory values, we will discover that the company's policy does not support high inventory values, which comes to explain the high turnover values. Fixed - assets turnover (2004) = 0.97 times with 0.98 times in 2003. This is not necessarily a high value, but it does not necessarily mean the company is not using its fixed assets efficiently. In my opinion, it is more an indication of the specificity of the industry in which the company operates and of its own characteristics.

The total-assets turnover shows the same trends, with values of 0.62 (2004) and 0.61 in 2003.

In terms of profitability ratios, we are inclined to use the profit margin on sales indicator, as well as the return on total assets ratio, currently referred to as the return on investment ratio (ROI).

Again, de to company's specificity, we can evaluate the profit before tax as the changes in net assets from operations, from the consolidated statement of activities. However, we discover that this is a negative value both in 2003 and in 2004. Not necessarily a discomfort in this case, the negative values come to show that the company relies on investment in buildings, equipment etc. rather than in increasing its...

Nevertheless, these values have shown a solid increase from those in 2003, by almost 3 times.
The financial ratios we have calculated come to show the impact the industry in which the company is operating and the company's own specificity has on the financial ratios. Operating with almost no inventory (as compared to the total assets, for example) and relying less on multiplying its immediate operational profits, the company has solid financial figures in terms of liquidity and debt management, which shows almost no inclination towards risk.

The impact of Medicare on Red Cross's activity is obvious first of all if we have a look at the targeted segment of consumers: people over the age of 60 or 65. We have already seen signs of partnerships between the two concepts in several states with the U.S. (Alabama, Florida, Kentucky, Georgia) - in these states, the Red Cross wider idea to combat hunger or homelessness is correlated with the Medicare concept of offering cheap medical services.

In terms of financial analysis, it is difficult to evaluate the impact of Medicare on Red Cross activities. Most likely, it will lead to a gradually ascending trend in terms of revenues, but it is also…