Question

Prepare a Horizontal Financial Statement for Albertsons in the chart below. Compare the Condensed statement to Kroger (already listed).

Financial Statement Analysis Project				Alberstons	Alberstons
Condensed Financial Statements	Kroger 2019 FY	Kroger 2018 FY		2019	2018
Consolidated Balance Sheets
Cash	1,610	1,508
Merchandise Inventory	6,846	6,533
Receivables	1,589	1,637
Other Current Assets	758	1,439
Total Current Assets	10,803	11,117
Property and Equipment, net	21,635	21,071
Other Assets	5,680	5,009
Total Assets	38,118	37,197
Total Current Liabilities	14,274	14,197
Total Long-Term Liabilities	16,009	16,095
Total Liabilities	30,283	30,292
Total Shareholders Equity	7,835	6,905
Total Liabilities & Shareholders Equity	38,118	37,197
Consolidated Income Statement
Revenue (Net Sales)	121,162	122,662
Cost of Goods Sold (Merchandise Costs)	94,894	95,662
Gross Profit (Gross Margin)	26,268	27,000
Operating Expenses	23,654	24,388
Operating Income (Profit)	2,614	2,612
Other Income (Expense)	1,364	(1,128)
Earnings before tax	3,978	1,484
Income Tax Expense	900	(405)
Other Adjustments	32	18
Net Earnings (Net Income)	3,110	1,907
Earnings per share	3.80	2.11

Albertsons Balance Sheet

Current assets	2019	2018
Cash and cash equivalents	$ 926.1	$ 670.3
Receivables, net	586.2	615.3
Inventories, net	4,332.8	4,421.1
Prepaid assets	316.2	368.6
Other current assets	88.7	73.3
Total current assets	6,250	6,148.6
Property and equipment, net	9,861.3	10,770.3
Intangible assets, net	2,834.5	3,142.5
Goodwill	1,183.3	1,183.3
Other assets	647.5	567.6
TOTAL ASSETS	20,776.6	21,812.3
Current liabilities
Accounts payable	2,918.7	2,833
Accrued salaries and wages	1,054.7	984.1
Current maturities of long-term debt and capitalized lease obligations	148.8	168.2
Current portion of self-insurance liability	306.8	296
Taxes other than income taxes	309	323.5
Other current liabilities	414.7	424.8
Total current liabilities	5,152.7	5,029.6
Long-term debt and capitalized lease obligations	10,437.6	11,707.6
Deferred income taxes	561.4	579.9
Long-term self-insurance liability	839.5	921.7
Other long-term liabilities	2,334.7	2,175.3
Commitments and contingencies
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value; 30,000,000 shares authorized, no shares issued and outstanding as of February 23, 2019 and February 24, 2018, respectively	0	0
Common stock, $0.01 par value; 1,000,000,000 shares authorized, 277,882,010 and 279,654,028 shares issued and outstanding as of February 23, 2019 and February 24, 2018, respectively	2.8	2.8
Additional paid-in capital	1,814.2	1,773.3
Treasury stock, at cost, 1,772,018 and no shares held as of February 23, 2019 and February 24, 2018, respectively	(25.8)	0
Accumulated other comprehensive income	91.3	191.1
Accumulated deficit	(431.8)	(569)
Total stockholders' equity	1,450.7	1,398.2
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 20,776.6	$ 21,812.3

Albertson's Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Feb. 23, 2019	Feb. 24, 2018
Income Statement [Abstract]
Net sales and other revenue	$ 60,534,500,000	$ 59,924,600,000
Cost of sales	43,639,900,000	43,563,500,000
Gross profit	16,894,600,000	16,361,100,000
Selling and administrative expenses	16,107,300,000	16,275,400,000
Goodwill impairment	0	142,300,000
Operating income (loss)	787,300,000	(56,600,000)
Interest expense, net	830,800,000	874,800,000
Loss (gain) on debt extinguishment	8,700,000	(4,700,000)
Other income	(104,400,000)	(9,200,000)
Income (loss) before income taxes	52,200,000	(917,500,000)
Income tax benefit	(78,900,000)	(963,800,000)
Net income (loss)	131,100,000	46,300,000
Other comprehensive income (loss):
(Loss) gain on interest rate swaps, net of tax	(15,500,000)	47,000,000
Recognition of pension (loss) gain, net of tax	(83,100,000)	92,200,000
Foreign currency translation adjustment, net of tax	(300,000)	65,000,000
Other	(900,000)	(300,000)
Current-period other comprehensive loss, net	(99,800,000)	203,900,000
Comprehensive income (loss)	$ 31,300,000	$ 250,200,000

Answer 1