Dealership Financial Statement Analysis: The … Financial Statement Analysis: The Advanced Course With Ron Sompels, CPAstrong Moderated by Mike Bowers, Executive Editor at DealersEdge

Dealership Financial Statement Analysis: The Advanced Course

WithRon Sompels, CPAstrong

Moderated byMike Bowers, Executive Editor at DealersEdge

Ron Sompels, CPAstrongRon Sompels, CPA: Ronald Sompels is a partner at Crowe Horwath LLP, a top 10 public accounting and consulting firm. Mr. Sompels, a CPA and CPIM, is the Partner-in-Charge of Crowe’s Retail Dealer industry horizontal and has more than 30 years experience in providing assurance, tax, risk management, financial advisory, and performance consulting services to more than 600 retail dealerships.

He has conducted courses on many subjects, including inventory control, and is a published writer, with articles featured in trade magazines, periodicals, and business journals.

Mr. Sompels holds a Bachelor of Business Administration in Accounting from Western Michigan University.

The Unique Alternative to the Big Four®

How to Read and Analyze the DealershipFinancial Statement

Ron Sompels, PartnerCrowe Horwath LLP


Audit | Tax | Advisory | Risk | Performance © 2014 Crowe Horwath LLP 4

Operating Statement

�Before reviewing the operating statement you should understand that under “Dealership Accounting” many items get buried in “Other Income”

�Often this line in the operating statement contains the majority of the dealer income!

� Need to understand what is in here

� Packs

� Incentives

� Doc fees

� Other items

�Also understand the Dealership’s policy of Accounting for manufacturing assistance



Other Income ReclassificationsOther Income/Other Deduction BalancesDealership: Sample Toyota Store

Account # Account Name Line on Fin Stmt YTD Balance Reclass to:5121New Vehicle Pack Other Income (150,700) New Vehicle Gross5221Used Vehicle Pack Other Income (236,290) Used Vehicle Gross9140Doc Fees-New Other Income (300,196) New Vehicle Gross9145Rental Income Rental Income (4,940) Leave Other Income9150Misc Income Other Income (292,195) New Vehicle Gross9151DT Holdback Other Income - New Vehicle Gross9152Bad Debt Writeoff Other Income 8,853 Bad Debt Expense9155Haz Mat Shop Supply Other Income (3,099) Service Gross9240Doc Fees-Used Other Income (176,709) Used Vehicle Gross

9420Credit Card Discounts Other Deductions 7,991 Misc Expense9440Cash Discount Other Deductions - Leave Other Income9450Misc Income-Svc Other Deductions (1,410) Service Gross9470Rental Vehicles Other Deductions 15 Leave Other Deductions9480Misc Deductions Other Deductions 7 Leave Other Deductions

Total Other income/deductions (1,148,673)

New Vehicle Gross (743,091)Used Vehicle Gross (412,999)Service Gross (4,509)

Total (1,160,599)

Other 11,926

Total Other income/deductions (1,148,673)



Departmental Operating Analysis

� There are several ways that the Manufacturer’s statements present this.

� Most show a “Total Dealership” column which includes� Sales� Gross Profit� Itemized List of Expenses

� Expenses are listed in various categories� Selling Expenses� Personnel Expenses� Variable Expenses� Departmental Operating Expenses� Semi Fixed Expenses� Overhead Expenses� Fixed Expenses

� Expenses are also measured as percent to total gross, per new vehicle sold, or percent to total sales

� The same format is used to show each department’s expense which adds to the total




�Problems

� No common format makes it difficult to compare stores

� No comparative data or benchmarks

�Many of the expenses (mostly fixed in nature such as insurance, rent, or others such as employee benefits or payroll taxes) are difficult for department managers to control. They are allocated to the departments based on square footage or personnel cost.

� Need a better way to manage

�Many Dealers have a tool they use to analyze their statements. Ask them for it!!



�A good analysis tool will. . .

� Contain comparative data

� Analyze contribution margin by department

� Analyze controllable expense as a percent to gross

� Segregate fixed costs

� Compare to benchmarks

�Suggest separating expenses into two categories

� Controllable Expenses

� Non Controllable Expenses




CONTROLLABLE EXPENSES

Commissions

Advertising & Promotion

Supervision

Interest - Floorplan

F&I Compensation and Expense

Demos/Company Vehicles

Other Salaries

Prep, Deliver & Policy

Other Controllable Expenses *

Total Controllable Expenses

* Includes Equipment, Other Supplies and Training

New and Used Vehicle Departments - Controllable





New and Used Vehicle – Establish Benchmarks as a % to Gross Profit

% of Total Gross

CONTROLLABLE EXPENSES New Used

Commissions 24.0% 23.0%

Advertising & Promotion 12.5% 13.0%

Supervision 10.0% 10.0%

Interest - Floorplan 0.0% 1.0%

F&I Compensation and Expense

Demos/Company Vehicles 2.0% 1.0%

Other Salaries 3.5% 3.5%

Prep, Deliver & Policy 2.0% 2.0%

Other Controllable Expenses * 1.5% 1.5%

Total Controllable Expenses 55.5% 55.0%





Fixed Operations Departments - Controllable

CONTROLLABLE EXPENSES

Salaries & Wages

Advertising

Demos/Company Vehicles

Policy Adjustment

Tools & Supplies

Other Controllable Expenses *

Total Controllable Expenses





Fixed Operations Departments - Controllable

% of Total Gross

CONTROLLABLE EXPENSES Serv. Parts Body

Salaries & Wages 34.0% 28.0% 34.0%

Advertising 2.5% 4.0% 2.0%

Demos/Company Vehicles 1.0% 2.0% 1.0%

Policy Adjustment 2.0% 0.5% 2.0%

Tools & Supplies 7.0% 1.5% 3.0%

Other Controllable Expenses * 2.0% 2.6% 1.5%

Total Controllable Expenses 48.5% 38.6% 43.5%




Other Non Controllable Expenses

% of Total Gross

EMPLOYEE EXPENSES

Salary Administrative 3.0%

Employee Benefits 3.0%

Payroll Taxes 4.0%

Total Employee Expenses 10.0%

INSTITUTIONAL EXPENSES

Institutional Advertising 0.0%

Insurance 2.0%

Office Supplies 0.7%

Taxes - Other 3.0%

Total Institutional Expenses 5.7%

SERVICES

Data Processing 1.7%

Outside Services 2.9%

Professional Services 1.0%

Total Services 5.6%




Other Non Controllable Expenses

% of Total GrossFACILITY

Telephone 1.0%

Utilities 2.5%

Insurance - Building 0.0%

Repairs and Maintenance 0.0%

Taxes - Real Estate 0.0%

Total Facility 3.5%

MISCELLANEOUS EXPENSES

Depreciation 1.5%

Interest 1.0%

Miscellaneous 0.5%

Travel & Entertainment 0.5%

Other General & Administrative 0.0%

Total Miscellaneous Expenses 3.5%

Total Before Rent 28.3%

Rent & Equivalent 7.0%

Total Non-Controllable Expenses 35.3%




CONTROLLABLE EXPENSESBench

% of GrossMarch April May

Commissions 23.0% 320,062 14.7% 435,663 13.8% 410,304 13.3%

Advertising & Promotion 13.0% 177,428 8.1% 172,795 5.5% 154,581 5.0%

Supervision 10.0% 275,461 12.6% 428,139 13.5% 456,745 14.8%

Interest - Floorplan 1.0% 128 0.0% 0 0.0% 2,428 0.1%

F&I Compensation and Exp 58,861 2.7% 82,567 2.6% 73,374 2.4%

Demos/Company Vehicles 1.0% 20,640 0.9% 21,511 0.7% 28,492 0.9%

Other Salaries 3.5% 8,500 0.4% 9,750 0.3% 11,587 0.4%

Prep, Delivery & Policy 2.0% 35,876 1.6% 52,941 1.7% 56,277 1.8%

Other Controllable Expenses * 1.5% 8,992 0.4% 3,476 0.1% 11,056 0.4%

Total Controllable Expenses 55.0% 905,949 41.5% 1,206,842 38.1% 1,204,844 39.1%

Make Comparable




Benchmark Dec 2011 (YTD) Per unit Dec 2012 (YTD) Per Unit Dec 2013 (YTD)

SALES - UNITS

New Car - Retail 463 554 545

New Truck - Retail 419 167 209

Total New Units 882 721 754

GROSS

New Car - Retail 1700 4,401,260 9,506 3,030,597 5,470 4,333,460 7,951

New Car Incentives (Memo Only) 4,179,152 (0) 2,775,825 (0) 3,969,179 0

New Truck - Retail 1550 183,598 438 (140,785) (843) 120,734 578

New Truck Incentives (Memo Only) 0 0 0 0 1 0

New F&I 700 418,861 475 464,250 644 748,653 993

Fleet & Other New 400 41,144 5,005 25,110

Total New Gross 5,044,864 5,720 3,359,067 4,659 5,227957 6,933

NewGross Profit Analysis



Benchmark Dec 2011 (YTD) Dec 2012 (YTD) Dec 2013 (YTD)SALES - UNITSUsed Car Retail 161 238 175 Used Car Retail - Certified 253 469 502

Used Truck - Retail 0 0 0 Used Truck - Retail - Certified 0 0 0

Wholesale 314 444 559 Total Used Units 728 1,151 1,236

GROSSUsed Car - Retail 1,600 736,403 4,574 752,968 3,164 378,321 2,162 Used Car - Retail - Certified - 949,615 3,753 1,496,346 3,191 1,459,827 2,908

-Used Truck - Retail 1,600 0 0 0 0 0 0 Used Truck - Retail - Certified - 0 0 0 0 0 0

Wholesale - 214,988 685 356,554 803 745,663 1,334

Used F&I 700 282,892 687 559,578 791 496,388 733

Other Used - 0 0 0 Total Used Gross 2,183,898 5,301 3,165,446 4,477 3,080,199 4,550

UsedGross Profit Analysis



Gross Profit Analysis

BenchmarkDec 2008

(YTD)Dec 2009

(YTD)Dec 2010

(YTD)

SERVICE SALES

Customer Pay 2,647,869 52.1% 3,151,689 61.2% 3,401,948 64.0%

Warranty 1,438,500 28.3% 1,005,306 19.5% 900,096 16.9%

Internal 421,193 8.3% 528,489 10.3% 515,657 9.7%

Sublet 330,582 6.5% 216,177 4.2% 245,418 4.6%

Other 245,453 4.8% 251,105 4.9% 255,341 4.8%

Total Service Sales 5,083,595 100.0% 5,152,765 100.0% 5,318,460 100.0%

GROSS PROFIT

Customer Pay 72.0% 2,066,958 78.1% 2,515,586 79.8% 2,758,045 81.1%

Warranty 72.0% 1,093,373 76.0% 783,420 77.9% 701,715 78.0%

Internal 69.0% 307,206 72.9% 379,309 71.8% 377,448 73.2%

Sublet 7.0% 78,200 23.7% 67,928 31.4% 66,435 27.1%

Other 0.0% 126,906 51.7% 125,822 50.1% 113,172 44.3%

Unapplied (-) 0.0% (3,747) -0.1% 0 0.0% 0 0.0%

Total Service Gross 3,668,896 72.2% 3,872,065 75.1% 4,016,815 75.5%

Service



BenchmarkDec 2008

(YTD)Dec 2009

(YTD)Dec 2010

(YTD)PARTS SALES

Customer Pay 2,344,063 39.0% 2,814,888 45.2% 2,748,845 44.3%Warranty 1,918,002 31.9% 1,339,613 21.5% 1,347,757 21.7%

Internal 208,673 3.5% 335,592 5.4% 288,164 4.6%Wholesale 631,223 10.5% 700,869 11.3% 674,144 10.9%Counter 192,443 3.2% 169,916 2.7% 153,268 2.5%

Other 717,731 11.9% 862,202 13.9% 994,932 16.0%Total Parts Sales 6,012,135 100.0% 6,223,080 100.0% 6,207,110 100.0%

GROSS PROFIT

Customer Pay 40.0% 959,112 40.9% 1,165,989 41.4% 1,119,883 40.7%Warranty 27.0% 540,382 28.2% 394,095 29.4% 416,410 30.9%

Internal 20.0% 35,599 17.1% 66,528 19.8% 54,621 19.0%Wholesale 23.0% 147,341 23.3% 166,536 23.8% 176,663 26.2%Counter 34.0% 70,033 36.4% 59,589 35.1% 61,464 40.1%

Other 20.0% 122,753 17.1% 131,464 15.2% 162,214 16.3%Parts Adjustment 0.0% 313 0.0% (66,820) -1.1% (100,735) -1.6%

Total Parts Gross 30.0% 1,875,533 31.2% 1,917,382 30.8% 1,890,520 30.5%

Parts

Gross Profit Analysis



� Sometimes it is helpful to look at controllable expenses on a per unit basis

� Commissions (new and used)

� Advertising (new and used)

� Supervision (new and used)

� Also make sure periods being analyzed are comparable. (Annualize results if necessary)

� Other measures that are helpful

� New and used vehicle and parts inventory days supply

� Floorplan to Inventory Ratio

� CIT/VR days supply; P&S receivable days supply; Warranty receivable days supply; Finance Receivables days supply

� Avg. Cost of used retail units sold to Avg. (FIFO) cost of units in inventory

Other Metrics That Are Helpful



� Be careful because much of the information is based on “Memo Accounts” which are inputted monthly

� Receivable Analysis

� Inventory Analysis

� Hourly Labor Rates for Technicians

� Labor Hours

� Repair Order Counts

Other Information in the Statements




1




2




3




4




5



Key Benchmarks by Department



Key Benchmarks by Department

D

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HIP

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ud

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wed

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to m

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the

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main

rele

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and

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ith th

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ent s

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hould

initia

te a

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nges

necessary

. D

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ME

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IDE

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2013

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ash in

bank p

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ecu

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60 d

ays o

f exp.

2 R

etu

rn o

n C

ontro

llable

Assets

35%

3 N

et P

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s a

% o

f Gro

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20%

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% o

f Sale

s

2%

+

5 F

ixed C

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rom

GM

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tem

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ps

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s a

% o

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9 S

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xp

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N

EW

& U

SE

D V

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spers

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onth

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12 C

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core

s

E

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reg

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13 N

ew

Veh

icle

Invento

ry D

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up

ply

45

14 U

sed

Ve

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ve

nto

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up

ply

45

15 M

ana

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s p

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ross P

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Sh

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room

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17 U

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Cars

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18 U

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Cars

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% o

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s

(w

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sale

plu

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tail)

50%

FIN

AN

CE

& IN

SU

RA

NC

E

2012

2013

YT

D

Targ

et

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al

A

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al

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ross F

&I In

com

e p

er re

tail u

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old

$600

20 N

et F

&I In

com

e p

er re

tail u

nit s

old

$400

21 F

inance R

eserv

e $

to T

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l F &

I Inc. a

s a

%

60%

22 C

om

bin

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etra

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eta

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EN

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p. a

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ian R

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28 T

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ity -

Import

120%

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29 C

.P. H

ours

per R

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2

30 S

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00

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s

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eg

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or le

ss

33 S

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ly E

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ense a

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% o

f Serv

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or le

ss

DE

AL

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SH

IP M

AN

AG

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UID

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T

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C

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eth

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ash In

Bank p

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60 d

ays o

f expe

nses

1) Y

TD

Expenses.

2) D

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y #

of c

ale

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da

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TD

to g

et a

daily

expense ra

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3) D

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ash in

bank

am

ount b

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Assets

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, less N

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% o

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Div

ide T

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l Net P

rofit b

y

Tota

l Gro

ss P

rofit.

4 N

et P

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s a

% o

f Sale

s

2%

Div

ide T

ota

l Net P

rofit b

y

Tota

l Sa

les

5 F

ixed C

overa

ge - (F

rom

GM

Sta

tem

ent)

D

eale

rship

s w

/o B

od

y S

ho

ps

70%

Deale

rship

s w

/ Bod

y S

hops

85%

6 T

ota

l Gro

ss p

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mplo

ye

e - D

ea

lers

hip

$7,5

00

1) U

se Y

TD

Gro

ss P

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Div

ide b

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um

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f

m

onth

s Y

TD

.

2) D

ivid

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y th

e n

um

ber o

f

fu

ll time (o

r equ

ivale

nt)

em

plo

yees in

the

Deale

rship

. D

EA

LE

RS

HIP

EX

PE

NS

ES

7 V

aria

ble

Expe

nse a

s a

% o

f Varia

ble

G/P

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Div

ide V

aria

ble

Exp

enses

(w/o

F&

I).

b

y V

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ble

Gro

ss P

rofit

8 P

ers

onne

l Expense a

s a

% o

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Div

ide P

ers

onne

l Expense

b

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ota

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9 S

em

i Fix

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% o

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Div

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em

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Expense b

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ota

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ss

Pro

fit. 10 F

ixe

d E

xp

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% o

f Tota

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16%

Div

ide F

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xp

ense b

y

Tota

l Gro

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rofit.

NE

W &

US

ED

VE

HIC

LE

T

arg

et

C

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sa

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s re

p p

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Div

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its

by #

of S

ale

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Fin

ancia

l Stm

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SI s

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Equ

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reg

ional s

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s

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onth

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13 N

ew

Veh. In

v. D

ays S

up

ply

45

1) N

um

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f New

V

eh

icle

s re

taile

d o

ver th

e

last 3

month

s

2) D

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y 9

0, to

get a

n

avera

ge s

ale

per d

ay.

3) D

ivid

ed n

um

ber o

f

V

eh

icle

s in

inven

tory

by

the re

su

lt of s

tep #

2.

14 U

sed

. Veh. In

v D

ays S

upply

45

1) N

um

ber o

f Used

Veh

icle

s re

taile

d o

ver th

e

last 3

month

s

2) D

ivid

e b

y 9

0, to

get a

n

avera

ge s

ale

per d

ay.

3) D

ivid

ed n

um

ber o

f

V

eh

icle

s in

inven

tory

by

the re

su

lt of s

tep #

2.

15 M

ana

ger to

sale

s re

p ra

tio

1:6

16 G

ross p

rofit p

er e

mplo

yee -S

ho

wro

om

$8,5

00

1) U

se Y

TD

Gro

ss P

rofit.

Div

ide b

y n

um

ber o

f

m

onth

s Y

TD

.

2) D

ivid

e b

y th

e n

um

ber o

f

fu

ll time (o

r equ

ivale

nt)

em

plo

yees in

the S

ale

s

Departm

ent.

17 U

sed

cars

reta

il as %

of to

tal re

tail u

nits

50%

1) N

um

ber o

f Used

Veh

icle

s re

taile

d o

ver th

e

last 3

month

s

2) D

ivid

e b

y T

ota

l num

ber

of R

eta

il Sale

s (N

ew

&

Used)

18 U

sed

cars

who

lesale

% o

f used c

ar s

ale

s

50%

1) N

um

ber o

f Used

(w

hole

sale

plu

s re

tails

)

V

eh

icle

s w

ho

lesale

d o

ver

the la

st 3

month

s

2) D

ivid

e b

y T

ota

l num

ber

of U

sed S

ale

s (w

hole

sale

plu

s re

tail)

FIN

AN

CE

& IN

SU

RA

NC

E

Targ

et

C

alc

ula

tion m

eth

od

19 G

ross F

&I In

com

e/re

tail u

nit s

old

$600

All re

tail u

nits

plu

s le

ases

20 N

et F

&I In

com

e p

er re

tail u

nit s

old

$400

All re

tail u

nits

plu

s le

ases

21 F

inance R

eserv

e $

as %

of F

& I In

com

e

60

%

22 C

om

bin

ed E

xte

nd

ed W

arra

nty

Pen

etra

tion

60%

23 R

eta

il units

so

ld p

er F

&I M

an

ager

75

S

ER

VIC

E D

EP

AR

TM

EN

T

24 G

ross p

rofit a

s a

% o

f Labo

r

73%

Afte

r adj. c

ost o

f labor

25 R

eta

ined

Inc. a

fter C

ontro

llable

Exp

.

45%

1) S

erv

ice g

ross (w

ith

parts

transfe

r)

Less: P

ers

on

ne

l, Com

pan

y

veh

icle

exp., o

ther

supplie

s, a

dvertis

ing,

polic

y, d

ata

pro

cessin

g,

outs

ide s

erv

ices, tra

inin

g,

bad d

ebts

26 S

erv

ice A

dv. C

om

p. a

s a

% o

f Gro

ss

less th

an 1

0%

S

erv

ice g

ross w

ith p

arts

tra

nsfe

r 27 S

upp

ort P

ers

onn

el to

Technic

ian R

atio

1:3

28 T

echnic

ian p

roductiv

ity -

Import

120%

Hours

flagg

ed d

ivid

ed b

y

hours

ava

ilable

D

om

estic

110%

29 C

.P. H

ours

per R

.O.

2

30 S

erv

ice G

ross p

er e

mplo

ye

e

$6,0

00

Use Y

TD

gro

ss p

r. (with

out

parts

transfe

r)

31 C

.S.I. S

core

s

E

qu

al to

reg

ion

3 m

onth

avera

ge

32 P

olic

y E

xp. a

s %

of S

erv

ice G

ross

2%

or le

ss

With

out p

arts

transfe

r 33 S

upp

ly E

xp

. as a

% o

f Serv

ice G

ross

3%

or le

ss

With

out p

arts

transfe

r

PA

RT

S D

EP

AR

TM

EN

T

34 P

arts

sale

s p

er e

mplo

ye

e (o

r eq

uiv

ale

nt)

1) U

se m

onth

ly Y

TD

sa

les

w/o

wh

ole

sale

$37,5

00

2) D

ivid

ed b

y #

of fu

ll time

or e

qu

ivale

nt P

arts

w

/ who

lesa

le

$47,5

00

em

plo

yees

35 P

arts

Gro

ss p

er e

mplo

yee (o

r equiv

ale

nt)

$12,5

00

1) Y

TD

parts

gro

ss (n

o

transfe

r) div

ide b

y #

m

onth

s Y

TD

2) D

ivid

e b

y #

parts

em

plo

yees p

er th

e

financia

l sta

tem

ent

36 R

eta

ined

Incom

e a

fter C

ontro

llable

Exp.

w

/o w

hole

sale

40%

Less: s

am

e e

xpenses a

s

serv

ice p

lus fre

ight

w

/ who

lesa

le

30%

37 In

ve

nto

ry D

ays S

upp

ly

less th

an 4

5 d

ays

U

se G

.L. in

vento

ry fo

r

parts

com

pare

d to

3

month

s a

vera

ge c

ost o

f

sale

s fo

r parts

on

ly

38 S

ix m

onth

s n

o s

ale

inve

nto

ry

le

ss th

an 1

0%

39 T

rue tu

rns (F

rom

Parts

Mana

gem

ent R

ep

t) 6

BO

DY

SH

OP

T

arg

et

C

alc

ula

tion m

eth

od

40 G

ross p

rofit a

s a

% o

f Labo

r

65%

Afte

r adj. c

ost o

f labor

41 N

et p

rofit a

s a

% o

f Gro

ss P

rofit

30%

With

parts

transfe

r inc. in

gro

ss

42 S

ale

s p

er S

up

port P

ers

onne

l

$25,0

00

43 B

od

y S

ho

p G

ross p

er e

mplo

yee

$5,5

00

Month

ly b

ased o

n Y

TD

sale

s

44 R

eta

ined

Incom

e a

fter C

ontro

llable

Exp.

35%

Less s

am

e e

xpenses a

s p

arts

45 T

echnic

ian p

roductiv

ity

185%

46 P

ain

t/Mate

rial S

ale

s/C

usto

mer L

abor

17%

47 P

ain

t/Mate

rial C

ost p

lus S

plie

s to

Custo

mer L

br S

ale

s

14%

48 C

aptu

re R

atio

on e

stim

ate

s w

ritten

85%

A

DM

INIS

TR

AT

IVE

49 T

ota

l Gro

ss p

er e

mplo

yee

– O

ffice

$50,0

00

50 M

ana

ger to

Offic

e E

mplo

ye

e R

atio

1:7

DE

TE

RM

INE

IDE

AL

ST

AF

FIN

G L

EV

EL

S U

SIN

G G

RO

SS

P

ER

EM

PL

OY

EE

TA

RG

ET

ST

AF

FIN

G L

EV

EL

S B

Y D

EP

AR

TM

EN

T U

SIN

G M

AN

AG

EM

EN

T G

UID

ES

S

HO

WR

OO

M

GR

OS

S P

RO

FIT

- AV

ER

AG

E M

ON

TH

- NE

W

$154

,00

0

GR

OS

S P

RO

FIT

- AV

ER

AG

E M

ON

TH

- US

ED

$99,0

00

G

UID

E - G

RO

SS

PE

R E

MP

LO

YE

E

$8,5

00

C

ALC

ULA

TIO

N

30

S

ER

VIC

E D

EP

AR

TM

EN

T

GR

OS

S P

RO

FIT

- AV

ER

AG

E M

ON

TH

$184

,32

2

GU

IDE

- GR

OS

S P

ER

EM

PLO

YE

E

$6,0

00

C

ALC

ULA

TIO

N

31

B

OD

Y S

HO

P D

EP

AR

TM

EN

T

GR

OS

S P

RO

FIT

- AV

ER

AG

E M

ON

TH

$76,2

74

G

UID

E - G

RO

SS

PE

R E

MP

LO

YE

E

$5,5

00

C

ALC

ULA

TIO

N

14

P

AR

TS

DE

PA

RT

ME

NT

G

RO

SS

PR

OF

IT - A

VE

RA

GE

MO

NT

H

$61,5

42

G

UID

E - G

RO

SS

PE

R E

MP

LO

YE

E

$12,5

00

C

ALC

ULA

TIO

N

5

TO

TA

L D

EA

LE

RS

HIP

G

RO

SS

PR

OF

IT - A

VE

RA

GE

MO

NT

H

$605

,46

0

GU

IDE

- GR

OS

S P

ER

EM

PLO

YE

E

$7,5

00

C

ALC

LU

LA

TIO

N

82

Documents

Dealership Financial Statement Analysis: The … Financial Statement Analysis: The Advanced Course With Ron Sompels, CPAstrong Moderated by Mike Bowers, Executive Editor at DealersEdge