In: Accounting
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 ($) |
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 |
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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 |