Topic: Non-Cyclical Consumer Goods & Services

Please access the annual report (or Form 10-K filed with the SEC) for one publicly traded company in the industry you were assigned above. In addition to the company's own website, a great source is the SEC's Electronic Data Gathering, Analysis, and Retrieval (EDGAR) service. This free source is available by going to the "Filings" section ofSEC(Links to an external site.)and clicking on "Company Filings Search," and then entering the "Company name." Then look for the "10-K" reports needed.

Answer all the following questions about your company based on themost recentIncome Statement available:

1. Choose one topic from the 10-K report on non-cyclical consumer goods & services.
2. By what percentage did net income change? By what percentage did revenue change? Please specify whether each change was an increase or decrease.
3. What was the primary cause of the change in net income? A change in revenue or a change in costs? How can you tell?
4. Looking at costs a bit more, did fix or variable costs change more? Was it an increase or decrease? What does this say about the company their production process?

Link: https://www.sec.gov