Respond to each of the following:


1. Income Statement: Revenue, Cost of Goods Sold, Total Operating Expenses, Net Income & Earnings per Share

> What were the company’s revenues, cost of goods sold, total operating expenses, net incomes and earnings per share (basic only) for the most recent three fiscal years?
> Note: total operating expenses in this case will not include anything that was reported in the cost of goods sold.

> Note: depending on what your company provides for details, you may have to calculate some of the different items.

2. Balance Sheet: Inventory

> What were the company’s inventory values for the most recent three fiscal years?

Note: in providing these figures you may have to add some various components. For example, your company might list out the different items in the operating expenses and you will have to add them to obtain a total value.

Note: Some companies use different names. They may call it “Sales” vice “Revenue” or they might call it “Product” vice “Goods.” Do not let the slight differences in names trip you up. Think through the problem and by all means, remember ask questions in class if you need help.

3. Notes to the Financial Statements

> What notes apply to the following items: (there may be several)

>> Revenues

>> Cost of Goods Sold

>> Inventory

4. Ratios:

> Present the following ratios for the most two recent years:

>> Gross Profit Margin

>> Profit Margin (aka. Net Income to Net Sales Ratio)

>> Inventory Turnover

Note: do not show any calculations. Only present the ratio value and round all ratios to one decimal place.

Note: All ratio information must be calculated from the audited financial statements.

Note that your url must be exact & it must be a direct link to the SEC Edgar system (not the company’s home page or some investopedia stuff.) Think of it, Mr. Warren Buffett does not have time to wander the internet to find a specific document so be exact and double check the information provided.

Note: All information presented that was found in the financial reports must be documented.

Use APA style and in addition, page number(s) must be presented for each in text citation.

oExcept for directly quoted material, page numbers are not mandatory in APA style but I am making them mandatory for credit in this presentation.

Present source document as a bibliography complete with the exact url that will directly lead the reader to the exact SEC 10K annual report.

oAdditionally, you must provide a date accessed.

oAgain APA does not mandate this for fixed website, I am making it mandatory for credit.

The following is an example of what each student must submit for their report. Note: be brief, be exact, no long verbiage. You are provided details not an essay. Follow the outline provided.


Boston Beer Company by Michael J. Motes, CPA


1. Income Statement:


(In thousands, except per share data)




Revenue (Net Sales)




Cost of Goods Sold




Total Other Operating Expenses




Net Income




Earns Per Share (Basic)





(2016, p41)

(2016, p41)

(2015, p40)

Note: Net Sales is the value without the excise tax in this case. Excise Tax should not be part of the Revenue process in the case of breweries.

2. Balance Sheet: Inventory


(In thousands,except per share data)









(2016, p40)

(2015, p40)

(2015, p39)

3. Notes to the Financial Statements:

>> Revenues: Note B (2016, p48) (2015, p47)

>> Cost of Goods Sold: Note B (2016, p48) (2015, p47)

>> Inventory: Notes B & C (2016, p45, 46 & 51) (2015, p44, 45, 49 & 50)

4. Ratios:




Gross Profit Margin



Profit Margin



Inventory Turnover

8.2 times

8.5 times


2016 Boston Beer Company Annual Report (2016 SEC 10K). (SEC Filing Date: 2/22/2017).… Access date March 16, 2017.

2015 Boston Beer Company Annual Report (2015 SEC 10K). (SEC Filing Date: 2/18/2016).… Access date May 8, 2016.

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