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Walgreens Income Statement
Period Ending
Aug 31, 2013
Aug 31, 2012
Total Revenue
72,217,000
71,633,000
Cost of Revenue
51,098,000
51,291,000
Gross Profit
21,119,000
20,342,000
Operating Expenses
Research Development
-
Selling General and Administrative
17,543,000
16,878,000
Operating Income or Loss
3,940,000
3,464,000
Income from Continuing Operations
Total Other Income/Expenses Net
140,000
Earnings Before Interest And Taxes
4,060,000
Interest Expense
165,000
88,000
Income Before Tax
3,895,000
3,376,000
Income Tax Expense
1,445,000
1,249,000
Net Income From Continuing Ops
2,794,000
2,127,000
Net Income
2,450,000
WALGREENS BALANCE SHEET FOR 2012 AND 2013Period Ending
Assets
Current Assets
Cash And Cash Equivalents
2,106,000
1,297,000
Short Term Investments
Net Receivables
2,632,000
2,167,000
Inventory
6,852,000
7,036,000
Other Current Assets
284,000
260,000
Total Current Assets
11,874,000
10,760,000
Long Term Investments
7,100,000
7,006,000
Property Plant and Equipment
12,138,000
12,038,000
Goodwill
2,410,000
2,161,000
Intangible Assets
Accumulated Amortization
Other Assets
1,959,000
1,497,000
Deferred Long Term Asset Charges
Total Assets
35,481,000
33,462,000
Liabilities
Current Liabilities
Accounts Payable
8,313,000
7,403,000
Short/Current Long Term Debt
570,000
1,319,000
Total Current Liabilities
8,883,000
8,722,000
Long Term Debt
4,477,000
4,073,000
Other Liabilities
2,067,000
1,886,000
Deferred Long Term Liability Charges
600,000
545,000
Total Liabilities
16,027,000
15,226,000
Stockholders' Equity
Common Stock
80,000
Retained Earnings
21,523,000
20,156,000
Treasury Stock
(3,114,000)
(2,985,000)
Capital Surplus
1,074,000
936,000
Other Stockholder Equity
(109,000)
49,000
Total Stockholder Equity
19,454,000
18,236,000
INSTRUCTIONS:
Using the Income Statement and Balance Sheet, please perform the following instructions.
1. Complete a Horizontal Analysis of the 2013 Income Statement
2. Complete a Vertical Analysis of the 2013 and 2012 Income Statement using Total Revenue as the base amount.
3. Indicate any unusual trends identified using Horizontal or Vertical Analysis.
4. Using the Balance Sheet of 2012 and 2013, compute the following ratios FOR 2012 AND 2013:
i. Current Ratioii. Inventory Turnover. Only Compute for 2013iii. Gross Profit Percentage.iv. AR Turnover. Only Compute for 2013. Please assume all revenue was sold on credit.v. Debit-to-Equity Ratiovi. Earnings Per Share (EPS). Please note Weighted Average Number of Shares Outstanding for 2013 was: 946,595,578 and for 2012 was 944,055,334
5. Identify any ratio changes from 2012 to 2013.
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