In teams, select a public company that interests you. Obtain the companys most recent annual report on

Question:

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) from 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 annual report, answer the following questions:

1. What amount of current liabilities does the company report on its balance sheet at the end of the most recent year? What types of current liabilities does the company report?

2. Have current liabilities increased or decreased from the prior year? By what amount?

3. Does the company disclose any contingent liabilities in the notes to the financial statements? If so, briefly describe the nature of these contingent liabilities.

4. How much of the company’s long-term debt will come due in the coming year?

Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...