Select a public company that interests you.  Obtain the company's most recent annual report on Form 10-K.  The Form 10-K is a company's annually required filing with the Securities and Exchange Commission (SEC).  It includes the company's financial statements and accompanying notes.  The Form 10-K can be obtained from (a) the company's investor relations section of the company's website, (b) the search feature of the SEC's EDGAR database service or (c) searching using your search engine (Google, Bing, etc.) Based on the information in the company's most recent annual report, answer the following questions: 1) What amount of total assets does the company report on its balance sheet? 2) What amount of total liabilities does the company report on its balance sheet? 3) Using the accounting equation, determine the company's stockholders' equity.  Compare this amount to the amount of stockholder's equity reported on the company's balance sheet.  Do the figures match? 4) How many years of information are reported on the company's income statement? 5)  How many years of information are reported on the company's balance sheet? 6)  What is the difference between the information reported on the income statement and the information reported on the balance sheet?

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 95.3C
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Select a public company that interests you.  Obtain the company's most recent annual report on Form 10-K.  The Form 10-K is a company's annually required filing with the Securities and Exchange Commission (SEC).  It includes the company's financial statements and accompanying notes.  The Form 10-K can be obtained from (a) the company's investor relations section of the company's website, (b) the search feature of the SEC's EDGAR database service or (c) searching using your search engine (Google, Bing, etc.)

Based on the information in the company's most recent annual report, answer the following questions:

1) What amount of total assets does the company report on its balance sheet?

2) What amount of total liabilities does the company report on its balance sheet?

3) Using the accounting equation, determine the company's stockholders' equity.  Compare this amount to the amount of stockholder's equity reported on the company's balance sheet.  Do the figures match?

4) How many years of information are reported on the company's income statement?

5)  How many years of information are reported on the company's balance sheet?

6)  What is the difference between the information reported on the income statement and the information reported on the balance sheet?

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