In: Accounting
1. Find the most recent 4 years' balance sheets and 3 years' income statement for the two companies you have chosen to study for your project. (CVS +Walgreens or Mcdonalds + Wendy's).
3. Perform vertical analysis and horizontal analyses for the income statements (for horizontal analysis, use the first year as your base year; for vertical analysis, use "net sales" or "net revenue" as the base).
CVS Balance
Period Ending | 12/31/17 | 12/31/16 | 12/31/15 |
Current Assets | |||
Cash And Cash Equivalents | 1,696,000 | 3,371,000 | 2,459,000 |
Short Term Investments | 111,000 | 87,000 | 88,000 |
Net Receivables | 13,181,000 | 12,164,000 | 11,888,000 |
Inventory | 15,296,000 | 14,760,000 | 14,001,000 |
Other Current Assets | 945,000 | 660,000 | 722,000 |
Total Current Assets | 31,229,000 | 31,042,000 | 29,158,000 |
Long Term Investments | - | - | - |
Property Plant and Equipment | 10,292,000 | 10,175,000 | 9,855,000 |
Goodwill | 38,451,000 | 38,249,000 | 38,106,000 |
Intangible Assets | 13,630,000 | 13,511,000 | 13,878,000 |
Accumulated Amortization | - | - | - |
Other Assets | 1,529,000 | 1,485,000 | 1,440,000 |
Deferred Long Term Asset Charges | - | - | - |
Total Assets | 95,131,000 | 94,462,000 | 92,437,000 |
Current Liabilities | |||
Accounts Payable | 15,472,000 | 14,883,000 | 14,319,000 |
Short/Current Long Term Debt | 15,176,000 | 11,367,000 | 8,850,000 |
Other Current Liabilities | - | - | - |
Total Current Liabilities | 30,648,000 | 26,250,000 | 23,169,000 |
Long Term Debt | 22,181,000 | 25,615,000 | 26,267,000 |
Other Liabilities | 1,611,000 | 1,549,000 | 1,542,000 |
Deferred Long Term Liability Charges | 2,996,000 | 4,214,000 | 4,217,000 |
Minority Interest | 4,000 | 4,000 | 7,000 |
Negative Goodwill | - | - | - |
Total Liabilities | 57,440,000 | 57,632,000 | 55,202,000 |
Stockholders' Equity | |||
Misc. Stocks Options Warrants | - | - | 39,000 |
Redeemable Preferred Stock | - | - | - |
Preferred Stock | - | - | - |
Common Stock | 17,000 | 17,000 | 17,000 |
Retained Earnings | 43,556,000 | 38,983,000 | 35,506,000 |
Treasury Stock | -37,765,000 | -33,452,000 | -28,886,000 |
Capital Surplus | 32,079,000 | 31,618,000 | 30,948,000 |
Other Stockholder Equity | -196,000 | -336,000 | -389,000 |
Total Stockholder Equity | 37,691,000 | 36,830,000 | 37,196,000 |
Net Tangible Assets | -14,390,000 | -14,930,000 | -14,788,000 |
CVS Income
Income Statement All numbers in thousands | |||
Revenue | 12/31/17 | 12/31/16 | 12/31/15 |
Total Revenue | 184,765,000 | 177,526,000 | 153,290,000 |
Cost of Revenue | 156,220,000 | 148,669,000 | 126,762,000 |
Gross Profit | 28,545,000 | 28,857,000 | 26,528,000 |
Operating Expenses | |||
Research Development | - | - | - |
Selling General and Administrative | - | - | - |
Non Recurring | - | - | - |
Others | - | - | - |
Total Operating Expenses | - | - | - |
Operating Income or Loss | 9,517,000 | 10,366,000 | 9,475,000 |
Income from Continuing Operations | |||
Total Other Income/Expenses Net | -208,000 | -671,000 | -21,000 |
Earnings Before Interest and Taxes | 9,309,000 | 9,695,000 | 9,454,000 |
Interest Expense | 1,041,000 | 1,058,000 | 838,000 |
Income Before Tax | 8,268,000 | 8,637,000 | 8,616,000 |
Income Before Tax | 8,268,000 | 8,637,000 | 8,616,000 |
Income Tax Expense | 1,637,000 | 3,317,000 | 3,386,000 |
Minority Interest | 4,000 | 4,000 | 7,000 |
Net Income From Continuing Ops | 6,631,000 | 5,320,000 | 5,230,000 |
Non-recurring Events | |||
Discontinued Operations | -8,000 | -1,000 | 9,000 |
Extraordinary Items | - | - | - |
Effect Of Accounting Changes | - | - | - |
Net Income | |||
Net Income | 6,622,000 | 5,317,000 | 5,237,000 |
Preferred Stock And Other Adjustments | - | - | - |
Net Income Applicable To Common Shares | 6,622,000 | 5,317,000 | 5,237,000 |
Walgreens Income
Income Statement All numbers in thousands | |||
Revenue | 8/31/17 | 8/31/16 | 8/31/15 |
Total Revenue | 118,214,000 | 117,351,000 | 103,444,000 |
Cost of Revenue | 89,052,000 | 87,477,000 | 76,691,000 |
Gross Profit | 29,162,000 | 29,874,000 | 26,753,000 |
Operating Expenses | |||
Research Development | - | - | - |
Selling General and Administrative | 23,605,000 | 23,873,000 | 22,085,000 |
Non Recurring | - | - | - |
Others | - | - | - |
Total Operating Expenses | - | - | - |
Operating Income or Loss | 5,557,000 | 6,001,000 | 4,668,000 |
Income from Continuing Operations | |||
Total Other Income/Expenses Net | -11,000 | -261,000 | 1,248,000 |
Earnings Before Interest and Taxes | 5,546,000 | 5,740,000 | 5,916,000 |
Interest Expense | 693,000 | 596,000 | 605,000 |
Income Before Tax | 4,853,000 | 5,144,000 | 5,311,000 |
Income Tax Expense | 752,000 | 953,000 | 1,032,000 |
Minority Interest | 808,000 | 401,000 | 439,000 |
Net Income From Continuing Ops | 4,078,000 | 4,173,000 | 4,220,000 |
Non-recurring Events | |||
Discontinued Operations - - - | |||
Extraordinary Items - - - | |||
Effect Of Accounting Changes - - - | |||
Other Items | |||
Net Income | |||
Net Income | 4,078,000 | 4,173,000 | 4,220,000 |
Preferred Stock And Other Adjustments | - | - | - |
Net Income Applicable To Common Shares | 4,078,000 | 4,173,000 | 4,220,000 |
Walgreens Balance
Period Ending | 8/31/17 | 8/31/16 | 8/31/15 |
Current Assets | |||
Cash And Cash Equivalents | 3,301,000 | 9,807,000 | 3,000,000 |
Short Term Investments | - | - | - |
Net Receivables | 6,528,000 | 6,260,000 | 6,849,000 |
Inventory | 8,899,000 | 8,956,000 | 8,678,000 |
Other Current Assets | 1,025,000 | 860,000 | 1,130,000 |
Total Current Assets | 19,753,000 | 25,883,000 | 19,657,000 |
Long Term Investments | 6,320,000 | 6,174,000 | 1,242,000 |
Property Plant and Equipment | 13,642,000 | 14,335,000 | 15,068,000 |
Goodwill | 15,632,000 | 15,527,000 | 16,372,000 |
Intangible Assets | 10,156,000 | 10,302,000 | 12,351,000 |
Accumulated Amortization | - | - | - |
Other Assets | 506,000 | 467,000 | 4,092,000 |
Deferred Long Term Asset Charges | - | - | - |
Total Assets | 66,009,000 | 72,688,000 | 68,782,000 |
Current Liabilities | |||
Accounts Payable | 18,296,000 | 16,690,000 | 15,489,000 |
Short/Current Long Term Debt | 251,000 | 323,000 | 1,068,000 |
Other Current Liabilities | - | - | - |
Total Current Liabilities | 18,547,000 | 17,013,000 | 16,557,000 |
Long Term Debt | 12,684,000 | 18,705,000 | 13,315,000 |
Other Liabilities | 4,223,000 | 4,045,000 | 4,072,000 |
Deferred Long Term Liability Charges | 2,281,000 | 2,644,000 | 3,538,000 |
Minority Interest | 808,000 | 401,000 | 439,000 |
Negative Goodwill | - | - | - |
Total Liabilities | 37,735,000 | 42,407,000 | 37,482,000 |
Stockholders' Equity | |||
Misc. Stocks Options Warrants | - | - | - |
Redeemable Preferred Stock | - | - | - |
Preferred Stock | - | - | - |
Common Stock | 12,000 | 12,000 | 12,000 |
Retained Earnings | 30,137,000 | 27,684,000 | 25,089,000 |
Treasury Stock | -9,971,000 | -4,934,000 | -3,977,000 |
Capital Surplus | 10,339,000 | 10,111,000 | 9,953,000 |
Other Stockholder Equity | -3,051,000 | -2,993,000 | -216,000 |
Total Stockholder Equity | 27,466,000 | 29,880,000 | 30,861,000 |
Net Tangible Assets | 1,678,000 | 4,051,000 | 2,138,000 |