In teams, 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 either (a) by referring to the investor relations section of the company's website or (b) by using the company search feature of the SEC's EDGAR database service found at www.sec.gov/edgar/searchedgar/companysearch.html.
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 stockholders' equity reported on the company's balance sheet.
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?