Calculation of percentage of total assetsreading and

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Reference no: EM13356194

Calculation of percentage of Total Assets.

Reading and Interpreting a Balance Sheet

A recent balance sheet for Walt Disney Company is provided below.

Walt Disney Company
Consolidated Balance Sheet

(In millions, except per share data)

 

 

Sep-30

2004

2003

Assets

 

 

Current Assets

$2,042

$1,583

Cash and cash equivalents

4,558

4,238

Receivables

775

703

Inventories

484

568

Television costs(current)

1,510

1,222

Other assets

9,369

8,314

Film and television costs

5,938

6,205

Investments

1,292

1,849

Parks, resorts and other property, at cost

 

 

Attractions, buildings and equipment

28,147

21,472

Accumulated deprecation

(11665)

(8794)

 

16,482

12,678

Intangible assets ,net

19,781

19,752

Other assets

1,040

1,190

Total assets

$53,902

$49,988

Liabilities and Stock holders' Equity

 

 

Current Liabilities

 

 

Accounts payable and other accured liabilities

$5,623

$5,044

Current portion of borrowings

4,093

2,457

Unearned royalties and other advances

1,343

1,168

Total current liabilities

11,059

8,669

Borrowings

9,395

10,643

Other noncurrent liabilities Minority

6,569

6,457

Minority interests

798

428

Stockholders' Equity

 

 

Common Stock

12,447

12,154

Retained earnings

15,732

13,817

Adjustments

(2,098)

(2,180)

Total stockholders' equity

26,081

23,791

Total Liabilities and stockholders' equity

$53,902

$49,988

a. Do you agree that Walt Disney's balance sheet is both classified and comparative?  Explain why or why not?
b. At year-end 2004, what percentage of total assets was composed of current assets?  Had this percentage increased or decreased since year-end 2003?
c. What was Disney's amount of working capital at year-end 2004?  Did it change significantly?
d. Compute the working capital ratio at year-end 2004 and year-end 2003.  Did it improve or deteriorate between 2003 and 2004?
e. Film and television costs are the amount paid to produce movies or television shows.  Explain why it appears in two places on the balance sheet.
f. What were the amounts of total assets, total liabilities, and stockholder's equity at year-end 2004 and year-end 2003?
g. Did Disney's overall financial position improve between 2003 and 2004? Explain.

Reference no: EM13356194

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