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Financial Reporting Problem The Procter & Gamble Company (P&G) 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. Instructions Refer to these financial statements and the accompanying notes to answer the following questions. (a) What were P&G's total assets at June 30, 20147 At June 30, 2013? (b) How much cash (and cash equivalents) did P&G have on June 30, 2014? ( What were P&G's research and development costs in 2013? In 2014? (d) What were P&G's revenues in 2013? In 2014? fe) Using P&G's financial statements and related notes, identify items that may result in adjusting entries for deferrals and accruals. ( What were the amounts of P&G's depreciation and amortization expense in 2012, 2013, and 2014? pendix B Specimen Financial Statements: The Procter & Gamble Company 2013 Cated States of Earnings Ammat aluee NET SALES 2014 3,0635 AT 25314 OPERATING INCOME Tree TRS 152 709 100 2016 14 3.175 11.707 7 11.789 14 LANNINGSTROS CONTINUING OPERATIONS BEFORE INCOME TAXES 11.10 101 BUITE 9.150 1.754 NET EARNINCSTRON CONTINUING OPERATIONS NET EARNINGS FROM DESCONTINUED OPERATIONS SET EARNINGS 90 1163 10.14 NET EARNINGS ATTRIBUTARLETOPROCTA CANDLE BIR BASIC NET EARNINGS PER COMISION SHARE Tom Bardhmen HASIC NET EARNINGS PER COMMON SHARE DILUTED SETERNINGS PER COMMON SHARE 4.165 0.3.3 4.19 000 404 383 5 3.98 0,03 4.001 2.45 3 DILUTED NEARNIMS PER COMMON SHARE DIVEDENUS PER CONDON SHARE Cated Statement of Comprehemivel 2014 30 DO NET EARNINGS OTHER COMPREHENSIVE INCOME LOSS,NET OF TAX soos 1.044 (347 9 16 163) TUTALHEREHENSIVE INCONNET OF TAX TOTAL CONSIVE INCOME TOTAL COMPREHENSIVE INCOME MISUTABLETOPROCTER & GAMLE 150 12 5 5 13.143 5 Specimen Financial Statements: The Procter & Gambie Company 14 30 Such CURRENT ASSETS 1,18 INVENTORIES We hede 12 3 TOTAL CLIENT ASSETS 3117 5511 11.372 PROPERTY. PLANT AND OUTPMENT, MET COOL TRADEMARKS AND OTHER INTANGIBLE ANSES, ET OTHER NONCURRENT ASSETS TOTAL ASSETS 9.704 30.3.3 5.79 144216 5 CERINT LIABILITIES Ah 163 TOTAL CURRENT LIABILITIES LONG TIM DERT DERED INCOME TANES OTHER NONCERINT LARILIES TOTAL LEARLITIES OLDERS TOUTY 15.06 33.726 19X11 10.21 10.35 74.190 11 4. Casper 2.2001 13 OP 76 TOTAL SHAREHOLDERS' EQUITY TOTAL LABILITIES AND SHAROCHES ROURY Appendix B Specimen Financial Statements: The Procter & Gamble Company Comidated Statement of Shareholders A BALANCE JUNE Ne ting S 7 S MAKES 10.25 7279 ONS roro | Ht Thu INTRO 10.5 IT 50 HST 03 3 BALANCE JUNE 2011 T.10 TS 1.357 19.3333 75.349 M T. to the C (6275 16 Trade ISE 38 BALANCE UNE 10,301) 2.747301 BOOT LY 125 ITA 7.191 1411 49 14211, 16,681 (2511 174,96 (Sou's 15.00 344 3.78 193) 32 12 61 7.5 2. 54.009 10111 63311 31.05 1775.00 762 569.976 Specimen Financial Statements: The Procter & Gamble Compan, de Statements of Calows SODE 2013 GRAND CASH POLIVALINTS, BEGINNING OF YEAR 2014 5.15 REATING ACTIVITIES 15.00 0.10 ST 15 TO 1 331 13.958 14 HITAL OPERATING ACTIVITIES YEYTING ACTIVITIES 4 314 INSO (3.SEN 370 1241 $6 Would 131 6.295 14.1071 TOTAL INVESTING ACTIVITIES NING ACTIVE 6,9111 100 2.0 home 35 3.75 6.003) 2.94 1721 19 17011 mer TOTAL FINANCING ACTIVITIES WECT OF EXCHANGE RATE CHANGES ONCE AND CAICOLIVALENTS CHAIN CASH AND CASH OLIVALENTS CARANDI CUIVALENTS, END OF YEAR 55555 EMENTAL DISCLOSURE