Obtain a copy of the 2009 annual report of Dow Chemical Company (Dow) from the company’s Web site. Prepare a brief summary of information you find related to the major topics covered in this chapter.
a. Is there any disclosure of preferred stock or subsidiary preferred stock transactions?
b. What amounts does Dow report for earnings per share? Summarize Dow’s earnings per share calculations.
c. Summarize Dow’s reconciliation of its effective tax rate with the federal statutory rate for 2009 only.