profile-image Time remaining: 00 :09 :51 Accounting FINANCIAL STATEMENT ANALYSIS – INDIVIDUAL ASSIGNMENT ACCT111 Fall 2020 CURRENT SITUATION In 2008, Mary Pendergast-Singh and her brother George Pendergast had recently inherited 51% and 49% respectively of their family business started by their great-grandmother in Toronto in 1902. Pendergast Department Stores (PDS) had grown from a single general store to three large department stores in Toronto, Vancouver and Montreal. Although Mary and George are personally wealthy, the family business is experiencing declining revenue and, for the first time in 107 years, showed a net loss on its 2008 income statement. Mary and George decided they must change with the times in order for the family business to survive another generation. OPTION 1 – INVEST IN ONLINE STORES Mary’s husband Soman sees that some “brick and mortar” businesses are adopting “ecommerce / online” platforms and feels that PDS should invest in online shopping to create a seamless shopping experience for their
