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In: Accounting

Financial reports are the primary means by which corporations report their performance and financial condition. Financial...

Financial reports are the primary means by which corporations report their performance and financial condition. Financial statements are one component of the annual report mailed to their shareholders and to interested others. Many companies are using the 10-K report that they file with the SEC as a replacement for the financial portion of their annual report.

Required:

Obtain the most recent annual report (or 10-K report filed for Boston Beer Co Inc. The easiest way is to use the searchable EDGAR database (under filings on the SEC.gov  (Links to an external site.)Links to an external site.website). Put in the name (shown exactly as above) or the ticker symbol (SAM) in the box to the right. Be sure you use the most recent 10-K report filed. (Click on the blue "Interactive Data" oval to see the that year's data. (Make sure you use a 10-K NOT a 10-Q report.

After browsing the report, click on the yellow-orange header that reads, "Financial Statements" then "Consolidated Balance Sheets" to  answer the following questions:

1. Name two Current Assets and two Long-term Assets that are listed on the Balance Sheet. What is the value of the 1) Total Current Assets and 2) the Total Assets shown? (Be sure to use a dollar sign and indicate "in thousands" if necessary.)

2. Name two Current Liabilities and two Long-term Liabilities listed. What is the value of the 1) Total Current Liabilities and 2) Total Liabilities shown? (Be sure to use a dollar sign and indicate "in thousands" if necessary.)

3. What is the total value for Retained Earnings as of year end? Did Retained Earnings increase or decrease from the previous year end? By how much?

4. List TWO other items you found to be interesting when looking at Boston Beer's Financial Statements. Be specific. Explain in two or three sentences why you find each of these items to be interesting.

Consolidated Balance Sheets - USD ($)
$ in Thousands

Dec. 30, 2017 Dec. 31, 2016
Current Assets:
Cash and cash equivalents $ 65,637 $ 91,035
Accounts receivable 33,749 36,694
Inventories 50,651 52,499
Prepaid expenses and other current assets 10,695 8,731
Income tax receivable 7,616 4,928
Total current assets 168,348 193,887
Property, plant and equipment, net 384,280 408,411
Other assets 13,313 9,965
Goodwill 3,683 3,683
Total assets 569,624 615,946
Current Liabilities:
Accounts payable 38,141 40,585
Accrued expenses and other current liabilities 63,617 60,934
Total current liabilities 101,758 101,519
Deferred income taxes 34,819 57,261
Other liabilities 9,524 10,584
Total liabilities 146,101 169,364
Commitments and Contingencies (See Note J)
Stockholders' Equity:
Additional paid-in capital 372,590 349,913
Accumulated other comprehensive loss, net of tax (1,288) (1,103)
Retained earnings 52,105 97,648
Total stockholders' equity 423,523 446,582
Total liabilities and stockholders' equity 569,624 615,946
Common Class A
Stockholders' Equity:
Common Stock 86 92
Common Class B
Stockholders' Equity:
Common Stock $ 30 $ 32

Solutions

Expert Solution

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Current Assets:
Cash and cash equivalents
Accounts receivable
Long-term Assets
Property, plant and equipment, net
Goodwill
Total Current Assets 168,348 193,887
he Total Assets 569,624 615,946
Current Liabilities
Accounts payable
Accrued expenses and other current liabilities
Long-term Liabilities
Deferred income taxes
Other liabilities
Current Liabilities 101,758 101,519
Total Liabilities 146,101 169,364
Retained Earnings 52,105 97,648
Has decreased
TWO other items
Additional paid-in capital There is increase in amount inspite of the fact that no of shares has reduced
Common Stock There is decrease in no of shares inspite of the fact that Additional Paid-in Capital has increased

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