Question

In: Accounting

1. Find the most recent 4 years' balance sheets and 3 years' income statement for the...

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

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