Question :
170.Using the following information from an annual report, prepare a : 1244263
170.Using the following information from an annual report, prepare a vertical analysis of the consolidated statement of earnings for the fiscal year ended June 30, 20×7. (Round percentage answers to one decimal place.)
(In millions)
Net sales
$11,862
Cost of sales
8,321
Gross margin
$ 3,541
Selling, general, and administrative expenses
$ 2,743
Depreciation, amortization, and asset write-offs
278
Total operating expenses
$ 3,021
Income from operations
$ 520
Interest expense
(91)
Interest and other income
11
Earnings before income taxes
$ 440
Income taxes
161
Net earnings
$ 279
June 30, 20×7
% of Net Sales*
(In millions)
(In millions)
Net sales
Cost of sales
Gross margin
Selling, general, and administrative expenses
Depreciation, amortization and asset write-offs
Total operating expenses
Income from operations
Interest expense
Interest and other income
Earnings before income taxes
Income taxes
Net earnings
171.Using the following information from an annual report, prepare a vertical analysis of the consolidated balance sheet at June 30, 20×7. (Round percentage answers to one decimal place.)
June 30, 20×7
(In millions)
Cash and cash equivalents
$ 584
Accounts and other receivables
182
Merchandise inventories
2,027
Prepaid expenses and other current assets
80
Total current assets
$2,873
Real estate, net
$2,342
Other, net
2,113
Total property and equipment
$4,455
Goodwill, net
$ 374
Other assets
651
Total assets
$8,353
Short-term borrowings
$ 278
Accounts payable
1,617
Accrued expenses and other current liabilities
836
Income taxes payable
107
Total current liabilities
$2,838
Long-term debt
$1,230
Deferred income taxes
362
Other liabilities
243
Total liabilities
$4,673
Common stock
$ 30
Additional paid-in capital
453
Retained earnings
4,757
Foreign currency translation adjustments
(137)
Treasury shares, at cost
(1,423)
Total stockholders’ equity
$3,680
Total liabilities and stockholders’ equity
$8,353
June 30, 20×7
% of Total Assets
(In millions)
(In millions)
Cash and cash equivalents
Accounts and other receivables
Merchandise inventories
Prepaid expenses and other current assets
Total current assets
Real estate, net
Other, net
Total property and equipment
Goodwill, net
Other assets
Total assets
% of Equities
Short-term borrowings
Accounts payable
Accrued expenses and other current liabilities
Income taxes payable
Total current liabilities
Long-term debt
Deferred income taxes
Other liabilities
Total liabilities
Common stock
Additional paid-in capital
Retained earnings
Foreign currency translation adjustments
Treasury shares, at cost
Total stockholders’ equity
Total liabilities and stockholders’ equity
0
Sweetums
