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Objective: To analyze the financial statements of a publicly traded company Make sure you choose one of teh four (4) companies found in doc-sharing and they are 1)Starbucks, 2) McDonalds, 3) Staples, or 4) Harley-Davidson corporations. You must use primarily the balance sheet and cash flow statement for this project and also the income statement which feeds certain information to the cash flow statement. Using techniques you have learned in the previous weeks, respond to the following questions. 1. What amount of deferred tax assets or deferred tax liabilities are on the two most recent years on the balance sheet? What gives rise to these deferred taxes? Please define a deferred tax asset and deferred tax liability. 2. What is the amount of income tax provision in the two most recent years on the income statement? What information is disclosed in the footnotes relating to income tax expense that would be relevant to an investor? Does the company have a net operating loss carry-forward or carry-back? What are the guidelines for carry-forwards and carry-backs? 3. Does the company have a defined benefit or defined contribution plan? What are the key elements of the plan discussed in the footnotes that would be relevant to investors or creditors? What amounts on the balance sheet relate to this plan and where are they placed on the balance sheet? What are the differences between defined benefit and defined contribution plans? 4. What are the earnings per share amounts disclosed on the income statement for the most recent year? What dilutive securities are discussed in the footnotes? Please identify and describe other examples of dilutive securities. How do these impact earnings per share? 5. What kind of share-based compensation does the company have? What was share-based compensation expense for the two most recent years? Which employees are the recipients of that compensation? What is the most important elements of this plan discussed in the footnotes that would be relevant to invetors or creditors? Please identify and describe other types of share-based compensation. 6. All companies must use the indirect method. In reference only to the cash from operations section, discuss the three minimum or four preferred largest items in that section and explain in simple terms what they are and why they are added or subtracted from the net income. DO NOT INCLUDE CHANGES IN WORKING CAPITAL OR ADDITIONS TO CASH OF DEPRECIATION AND AMORTZATIONS AS PART OF YOUR 3 SELECTED ITEMS. 7. What major investing and financing cash flow activities does the company have and specify the amounts and whether they add or subtract from cash (3 minimum line items for each cash flow area choosing the largest cash flows) Explain each briefly being sure to evaluate whether these cash flows are normal or unusual cash flows.
For tax purposes, the corporation has elected to take advantage of the maximum benefit for expensing organizational costs. No additional book/tax differences exist. For the year ended December 31, Year 1, Dale Corporation's taxable income was:
Vertical analysis for both companies- you may use your calculations from the checkpoint ratio, vertical, and horizontal analysis, providing you show your work. horizontal analysis for both companies you may use your calculations from the checkpoin..
What are the equity method journal entries typically recorded by a parent company? Provide examples in your response.
Why is determining cost to manufacture a product quite a different activity from determining how to control such costs?
On January 2, 2011, Mize Co. issued at par $300,000 of 9% convertible bonds. Each $1,000 bond is convertible into 30 shares. No bonds were converted during 2007. Mize had 50,000 shares of common stock outstanding during 2011. Mize 's 2011 net inco..
It allows the company to pay off the bond anytime after the first fifteen years, but requires that bondholders be compensated with an extra year's interest at the coupon rate if such a payoff is exercised. What is the bond's market price assuming ..
A reason why "pure" FIFO is rarely encountered in process costing is that:
What is the acquisition cost of each asset? Prepare a journal entry to record the acquisition. Danny plans to depreciate the operating assets on a straight-line basis for 20 years. Determine the amount of depreciation expense for 2008 on these newl..
Assuming that total dividends declared in 2003 were $88,000, and that the preferred stock is not cumulative but is fully participating, each common share should receive 2003 dividends of what amount?
Bailey Company sells 25,000 units at $15 per unit. Variable costs are $8 per unit, and fixed costs are $35,000. The contribution margin ratio and the unit contribution margin, (rounding to two decimal points) are:
Explain the reason for the strict requirement about stock ownership in the rules of conduct.
Develop a memo to Texaco Inc’s chief accountant indicating the appropriate income tax allocation required for the above items, comprising the appropriate balance sheet presentation.
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