Project Description:

tco a) below you will find selected information (in millions) from coca-cola co.’s 2012 annual report:

income taxes payable


short-term investments and marketable securities




other non-current liabilities


common stock




other current assets


long-term investments


other non-current assets


property, plant and equipment




other intangible assets


allowance for doubtful accounts


accumulated depreciation


accounts payable


short term notes payable


prepaid expenses


other current liabilities


long-term liabilities


paid-in-capital in excess of par value


retained earnings




treasury stock


other information taken from the annual report:

sales revenue for 2012


cost of goods sold for 2012


net income for 2012


inventory balance on 12/31/11


net accounts receivable balance on 12/31/11


total assets on 12/31/11


equity balance on 12/31/11


1. using the information provided prepare a balance sheet. separate the current assets from non-current assets and provide a total for each. also separate the current liabilities from the non-current liabilities and provide a total for each.
2. using the balance sheet from your answer above, calculate the current ratio and return on common stockholders’ equity ratio. (make sure to show all your work).
the following selected data was retrieved from the walmart, inc. financial statements for the year ending january 31, 2013:

accounts payable $38,080
accounts receivable 6,768
cash 7,781
common stock 3,952
cost of goods sold 352,488
income tax expense 7,981
interest expenses 2,064
membership revenues 3,048
net sales 466,114
operating, selling and administrative expenses 88,873
retained earnings 72,978

using the information provided above:
1. prepare a multiple-step income statement
2. calculate the profit margin, and gross profit rate for the company. be sure to provide the formula you are using, show your calculations, and discuss your findings/results.
please review the following real-world hewlett packard statement of cash flows and address the two questions below:
cash flow from operating activities in millions in millions
for the year ended 2012 for the year ended 2011
net (loss) earnings $(12,650) $7,074
depreciation and amortization 5,095 4,984
impairment of goodwill and purchased intangible assets 18,035 885
stock-based compensation expense 635 685
provision for doubtful accounts 142 81
provision for inventory 277 217
restructuring charges 2,266 645
deferred taxes on earnings (711) 166
excess tax benefit from stock-based competition (12) (163)
other, net 265 (46)
accounts and financing receivables 1,269 (227)
inventory 890 (1,252)
accounts payable (1,414) 275
taxes on earnings (320) 610
restructuring (840) (1,002)
other assets and liabilities (2,356) (293)
net cash provided by operating activities 10,571 12,639
cash flows from investing activities:
investment in property, plant, and equipment (3,706) (4,539)
proceeds from sale of property, plant, and equipment 617 999
purchases of available-for-sale securities and other investments (972) (96)
maturities and sales of available-for-sale securities and other investment 662 68
payments in connection with business acquisitions, net of cash acquired (141) (10,480)
proceeds from business divestiture, net 87 89
net cash used in investing activities (3,453) (13,959)
cash flow from financing activities:
(payments) issuance of commercial paper and notes payable, net (2,775) (1,270)
issuance of debt 5,154 11,942
payment of debt (4,333) (2,336)
issuance of common stock under employee stock plans 716 896
repurchase of common stock (1,619) (10,117)
excess tax benefit from stock-based compensation 12 163
cash dividends paid (1,015) (844)
net cash used in financing activities (3,860) (1,566)
increase (decrease) in cash and cash equivalents 3,258 (2,886)
cash and cash equivalents at beginning of period 8,043 10,929
cash and cash equivalents at end of period $11,301 $8,043
1) please calculate the percentage increase or decrease in cash for the total line of the operating, investing, and financing sections bolded above and explain the major reasons for the increase or decrease for each of these sections.
2) please calculate the free cash flow for 2012 and explain the meaning of this ratio.
(points : 36)
you are cfo of goforit, inc., a wholesale distribution company specializing in emerging technologies. your ceo is a brilliant marketer, but relies on you to explain issues and choices in accounting and finance. she has heard from other members of a ceo organization to which she belongs that a company’s net income can vary widely depending on which accounting choices are made from the “gaap menu.”

assuming the goal is to maximize net income, choose an accounting treatment from each of the following scenarios, and explain to your ceo why the choice will produce the desired effect on reported net income for the current year. include in your answer the effect of the choice on both the income statement and balance sheet.

a. goforit carries significant electronics inventory in a competitive environment in which prices are actually falling. which inventory valuation method would you choose—lifo, fifo, or average cost? assume that unit purchases exceed unit sales.

b. goforit has a large investment in warehouse equipment, including conveyor belts, forklifts, and automated packaging systems. which depreciation method would you choose: straight line (sl) or double declining balance (ddb)?
question 5. 5. (tco f) please review the following real-world ratios for johnson & johnson and pfizer for the year ended 2012 and address the 2 questions below.
ratio name johnson & johnson pfizer

profit margin 16.1% 24.7%
inventory turnover ratio 3.1 1.7
average collection period 59.4 days 69.1 days
cash debt coverage ratio .27 .16
debt to total assets 46.6% 127.5%
1) please explain the meaning of each of the pfizer ratios above.
2) please state which company performed better for each ratio.
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