Reality bite based on Chapter 2 material (Quiz 2)

What information can be calculated from Amazon's list of accounts?

Amazon, Inc., is a publicly held corporation and issued its financial statements for 2016 earlier in February 10th, 2017. To follow is a condensed and adapted list of accounts balances as of December 31, 2016, that was constructed from those financial statements.

Please note that the accounts have been adapted and condensed for educational use and should not be used for investment decisions.

Amazon's List of Accounts balances (Trial Balance)

Consolidated list of accounts balances (adapted for classroom use)

As of December 31, 2016 (in millions)

Cash and cash equivalents $19,334

Marketable securities

Inventories

Accounts receivable, net

Property and equipment, net

Intangible assets, net

Other long-term assets

Accounts payable

Other current liabilities

Long-term debt

Other long-term liabilities

Common stock and other

Beginning retained earnings (R/E as of 1/1/2016)

Net revenues for 2016

Expenses for 2016

Other expenses and adjustments for 2016

Dividends for 2016

6,647

11,461

8,339

29,114

3,784

4,723

$25,309

18,507

7,694

12,607

14,369

2,545

135,987

131,801

1,815

0

Amazon's complete, unabridged financial statements (10-K) can be found on itsinvestor relations website.

Questions(calculate each of the following totals using Amazon's list of accounts)

1. Current assets
2. Total assets
3. Current liabilities
4. Total liabilities
5. Net income
6. Ending retained earnings
7. Total stockholders' equity
8. Amazon's accounting equation as of December 31, 2016.