? ? The financial statements of P&G are presented in Appendix B. The company s complete annual
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The financial statements of P&G are presented in Appendix B. The company s complete annual report, including the notes to the financial statements, is available online. Click here to view Appendix B Refer to these financial statements and the accompanying notes to answer the following questions. What were P&G s total assets at June 30, 2017? At June 30, 2016? June 30, 2017 Total assets Cash and cash equivalents How much cash (and cash equivalents) did P&G have on June 30, 2017? Research and development costs million What were P&G s research and development costs in 2016? In 2017? 2017 What were P&G s revenues in 2016? In 2017? Net sales 2017 June 30, 2016 million million Depreciation and amortization expense $ million $ 2016 million million What were the amounts of P&G s depreciation and amortization expense in 2015, 2016, and 2017? 2017 2016 million 2016 million million $ 2015 million Consolidated Statements of Earnings Amounts in millions except per share amounts; Years ended June 30 NET SALES Cost of products sold Selling, general and administrative expense Venezuela deconsolidation charge OPERATING INCOME Interest expense Interest income Other non-operating income/(expense), net EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES Income taxes on continuing operations NET EARNINGS FROM CONTINUING OPERATIONS NET EARNINGS/(LOSS) FROM DISCONTINUED OPERATIONS NET EARNINGS Less: Net earnings attributable to noncontrolling interests NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE BASIC NET EARNINGS PER COMMON SHARE: (1) Earnings from continuing operations Earnings/(loss) from discontinued operations BASIC NET EARNINGS PER COMMON SHARE DILUTED NET EARNINGS PER COMMON SHARE: (1) 2017 2016 $ 65,058 $ 65,299 32,535 32,909 18,568 18,949 2015 $ 70,749 37,056 20,616 2,028 11,049 626 149 440 13,369 11,012 3,063 3,342 2,725 10,194 10,027 8,287 5,217 (1,143) 15,411 577 10,604 96 7,144 108 85 $ 15,326 $10,508 $ 7,036 13,955 13,441 465 579 171 182 (404) 325 13,257 $ 3.79 $3.59 $2.92 2.01 0.21 (0.42) $5.80 $3.80 $2.50 Earnings from continuing operations Earnings/(loss) from discontinued operations $ 3.69 $3.49 $ 2.84 1.90 0.20 (0.40) $5.59 $3.69 $2.44 $ 2.70 $2.66 $2.59 DILUTED NET EARNINGS PER COMMON SHARE DIVIDENDS PER COMMON SHARE (1) Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. Consolidated Balance Sheets Amounts in millions; As of June 30 Assets CURRENT ASSETS Cash and cash equivalents Available-for-sale investment securities Accounts receivable INVENTORIES Materials and supplies Work in process Finished goods Total inventories Deferred income taxes Prepaid expenses and other current assets Current assets held for sale TOTAL CURRENT ASSETS PROPERTY, PLANT AND EQUIPMENT, NET GOODWILL TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET OTHER NONCURRENT ASSETS TOTAL ASSETS Liabilities and Shareholders Equity CURRENT LIABILITIES Accounts payable Accrued and other liabilities Current liabilities held for sale Debt due within one year TOTAL CURRENT LIABILITIES LONG-TERM DEBT DEFERRED INCOME TAXES OTHER NONCURRENT LIABILITIES TOTAL LIABILITIES SHAREHOLDERS EQUITY Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2017-4,009.2, 2016 - 4,009.2) Additional paid-in capital Reserve for ESOP debt retirement Accumulated other comprehensive income/(loss) Treasury stock, at cost (shares held: 2017-1,455.9, 2016 - 1,341.2) Retained earnings Noncontrolling interest TOTAL SHAREHOLDERS EQUITY TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 2017 $ 5,569 $ 7,102 9,568 6,246 4,594 4,373 1,308 529 1,188 563 2,965 4,716 1,507 2,653 = 7,185 26,494 33,782 19,893 19,385 44,699 44,350 24,187 24,527 5,133 5,092 $ 120,406 $ 127,136 2,787 4,624 2,139 2016 $ 9,632 $9,325 7,024 7,449 2,343 13,554 11,653 30,210 30,770 18,945 9,113 10,325 69,153 18,038 8,126 8,254 64,628 1,006 1,038 4,009 4,009 63,641 63,714 (1,249) (1,290) (14,632) (15,907) (93,715) (82,176) 96,124 87,953 594 642 55,778 57,983 $ 120,406 $ 127,136 Question 3 The financial statements of P&G are presented in Appendix B. The company s complete annual report, including the notes to the financial statements, is available online. Click here to view Appendix B Refer to P&G s financial statements and the accompanying notes to answer the following questions. (c1) Compute P&G s gross profit for each of the years 2015-2017. Gross profit 2017 million 2016 million 2015 million The financial statements of P&G are presented in Appendix B. The company s complete annual report, including the notes to the financial statements, is available online. Click here to view Appendix B Refer to these financial statements and the accompanying notes to answer the following questions. What were P&G s total assets at June 30, 2017? At June 30, 2016? June 30, 2017 Total assets Cash and cash equivalents How much cash (and cash equivalents) did P&G have on June 30, 2017? Research and development costs million What were P&G s research and development costs in 2016? In 2017? 2017 What were P&G s revenues in 2016? In 2017? Net sales 2017 June 30, 2016 million million Depreciation and amortization expense $ million $ 2016 million million What were the amounts of P&G s depreciation and amortization expense in 2015, 2016, and 2017? 2017 2016 million 2016 million million $ 2015 million Consolidated Statements of Earnings Amounts in millions except per share amounts; Years ended June 30 NET SALES Cost of products sold Selling, general and administrative expense Venezuela deconsolidation charge OPERATING INCOME Interest expense Interest income Other non-operating income/(expense), net EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES Income taxes on continuing operations NET EARNINGS FROM CONTINUING OPERATIONS NET EARNINGS/(LOSS) FROM DISCONTINUED OPERATIONS NET EARNINGS Less: Net earnings attributable to noncontrolling interests NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE BASIC NET EARNINGS PER COMMON SHARE: (1) Earnings from continuing operations Earnings/(loss) from discontinued operations BASIC NET EARNINGS PER COMMON SHARE DILUTED NET EARNINGS PER COMMON SHARE: (1) 2017 2016 $ 65,058 $ 65,299 32,535 32,909 18,568 18,949 2015 $ 70,749 37,056 20,616 2,028 11,049 626 149 440 13,369 11,012 3,063 3,342 2,725 10,194 10,027 8,287 5,217 (1,143) 15,411 577 10,604 96 7,144 108 85 $ 15,326 $10,508 $ 7,036 13,955 13,441 465 579 171 182 (404) 325 13,257 $ 3.79 $3.59 $2.92 2.01 0.21 (0.42) $5.80 $3.80 $2.50 Earnings from continuing operations Earnings/(loss) from discontinued operations $ 3.69 $3.49 $ 2.84 1.90 0.20 (0.40) $5.59 $3.69 $2.44 $ 2.70 $2.66 $2.59 DILUTED NET EARNINGS PER COMMON SHARE DIVIDENDS PER COMMON SHARE (1) Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. Consolidated Balance Sheets Amounts in millions; As of June 30 Assets CURRENT ASSETS Cash and cash equivalents Available-for-sale investment securities Accounts receivable INVENTORIES Materials and supplies Work in process Finished goods Total inventories Deferred income taxes Prepaid expenses and other current assets Current assets held for sale TOTAL CURRENT ASSETS PROPERTY, PLANT AND EQUIPMENT, NET GOODWILL TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET OTHER NONCURRENT ASSETS TOTAL ASSETS Liabilities and Shareholders Equity CURRENT LIABILITIES Accounts payable Accrued and other liabilities Current liabilities held for sale Debt due within one year TOTAL CURRENT LIABILITIES LONG-TERM DEBT DEFERRED INCOME TAXES OTHER NONCURRENT LIABILITIES TOTAL LIABILITIES SHAREHOLDERS EQUITY Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2017-4,009.2, 2016 - 4,009.2) Additional paid-in capital Reserve for ESOP debt retirement Accumulated other comprehensive income/(loss) Treasury stock, at cost (shares held: 2017-1,455.9, 2016 - 1,341.2) Retained earnings Noncontrolling interest TOTAL SHAREHOLDERS EQUITY TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 2017 $ 5,569 $ 7,102 9,568 6,246 4,594 4,373 1,308 529 1,188 563 2,965 4,716 1,507 2,653 = 7,185 26,494 33,782 19,893 19,385 44,699 44,350 24,187 24,527 5,133 5,092 $ 120,406 $ 127,136 2,787 4,624 2,139 2016 $ 9,632 $9,325 7,024 7,449 2,343 13,554 11,653 30,210 30,770 18,945 9,113 10,325 69,153 18,038 8,126 8,254 64,628 1,006 1,038 4,009 4,009 63,641 63,714 (1,249) (1,290) (14,632) (15,907) (93,715) (82,176) 96,124 87,953 594 642 55,778 57,983 $ 120,406 $ 127,136 Question 3 The financial statements of P&G are presented in Appendix B. The company s complete annual report, including the notes to the financial statements, is available online. Click here to view Appendix B Refer to P&G s financial statements and the accompanying notes to answer the following questions. (c1) Compute P&G s gross profit for each of the years 2015-2017. Gross profit 2017 million 2016 million 2015 million
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Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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