You can review the Disney SEC Form 10-K by searching for “Disney Annual Report” online.

REQUIRED:
Review the Disney 2015 Form 10-K and answer the following questions:
a. Compute cost of sales, selling, general and administrative expenses, taxes and other (include all other items in this category) as a percent of revenues for 2015, 2014, and 2013, and explain how Disney’s net income has changed over the three-year period.
b. Compute current and non-current assets as a percent of total assets, and explain how Disney’s asset structure changed from 2014 to 2015.
c. Compute current and long-term liabilities as a percent of total assets, and explain how Disney’s reliance on liabilities as a source of financing changed from 2014 to 2015.
d. Review the statement of cash flows and comment on whether Disney is growing and which financing sources have financed this growth.
e. Does the company pay dividends to its shareholders? Why or why not? Are there other methods that Disney uses to return cash to shareholders?