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Riordan goals were originally aimed towards examining and inventing patents. However, as time past during the exploration of his business endeavor, Dr. Riordan acquired a manufacturing plant which enabled the ultimate creation of plastic manufactured goods. Therefore, altering the company’s name to Riordan Manufacturing.
Aspects of Riordan’s profitability such as assets, liabilities, sales, non-operating and operating expenses must be accounted for; consequently financial statements such as the Balance Sheet and Income Statement are used to perform analysis of business performance. Through analysis of Riordan’s Balance Sheet, their inventory turn over rate seems to be exceptionally high...
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