Income Statement Review, WK 5 – ECA Part 2b help


In weeks 3 & 4 we learned about different aspect in accounting that affected the balance sheet & income statement. During this part of our ECA project we are going to dig into some information provided by our company’s income statement (found in SEC 10-K Item #8) and the accompanying notes.

 Do not repeat the questions or requirements; just provide the answers in a well formatted & documented manner. Please review the Boston Beer Company example, provided as a thread, for an example of how it is to be done.

Use only black & blue text font and a white background for the slides. Do not present any graphics of clip art of any type. Present the following information (note, present only the required information, resist going off on a tangent):

 Respond to each of the following:


1. Income Statement: Revenue, Cost of Goods Sold, Total Operating Expenses, Net Income & Earnings per Share

> What were the company’s revenues, cost of goods sold, total operating expenses, net incomes and earnings per share (basic only) for the most recent three fiscal years?

2. Balance Sheet: Inventory

> What were the company’s inventory values for the most recent three fiscal years?

 Note: in providing these figures you may have to add some various components. For example, your company might list out the different items in the operating expenses and you will have to add them to obtain a total value.

Note: Some companies use different names. They may call it “Sales” vice “Revenue” or they might call it “Product” vice “Goods.” Do not let the slight differences in names trip you up. Think through the problem and by all means, remember ask questions in class if you need help.

3. Notes to the Financial Statements

> What notes apply to the following items: (there may be several)

>> Revenues

>> Cost of Goods Sold

>> Inventory

4. Ratios:

> Present the following ratios for the most two recent years:

>> Gross Profit Margin

>> Profit Margin (aka. Net Income to Net Sales Ratio)

>> Inventory Turnover

Note: do not show any calculations. Only present the ratio value and round all ratios to one decimal place.

Note: All ratio information must be calculated from the audited financial statements. Note: All information presented that was found in the financial reports must be documented.

·  Use APA style and in addition, page number(s) must be presented for each in text citation.

o  Except for directly quoted material, page numbers are not mandatory in APA style but I am making them mandatory for credit in this presentation.

·  Present source document as a bibliography complete with the exact url that will directly lead the reader to the exact SEC 10K annual report.

o  Additionally, you must provide a date accessed.

o  Again APA does not mandate this for fixed website, I am making it mandatory for credit.

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