Refer to CVS Corporations annual report in the Supplement to Chapter 5 to answer the following questions.
Question:
Refer to CVS Corporation’s annual report in the Supplement to Chapter 5 to answer the following questions.
1. Consolidated balance sheets:
a. Did the amount of working capital increase or decrease from 2007 to 2008? By how much?
b. Did the current ratio improve from 2007 to 2008?
c. Does the company have long-term investments or intangible assets?
d. Did the debt to equity ratio of CVS change from 2007 to 2008?
e. What proportion of owners’ (shareholders’) equity is retained earnings?
2. Consolidated statements of operations:
a. Does CVS use a multistep or single-step income statement?
b. Is it a comparative statement?
c. What is the trend of net earnings?
d. How significant are income taxes for CVS?
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented...
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