Complete the requirements below using the most recent (20xx) financial statements available on Sonic Drive-Ins website. Obtain
Question:
Complete the requirements below using the most recent (20xx) financial statements available on Sonic Drive-In’s website. Obtain the statements on the Internet by following the steps below. (The formatting of the company’s website may have changed since these instructions were written.)
1. Go to www.sonicdrivein.com.
2. Click on the “Investors” link at the bottom of the page.
3. Click on the “20xx Annual Report” link at the lower left side of the page.
4. Go to the company’s financial statements that begin around page 25 of the annual report.
Required
a. What was the company’s net income in each of the last three years?
b. What amount of total assets did the company have at the end of the most recent year?
c. How much retained earnings did the company have at the end of the most recent year?
d. For the most recent year, what was the company’s cash flow from operating activities, cash flow from investing activities, and cash flow from financing activities?
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...
Step by Step Answer:
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds