Refer to CVS Corporation's annual report in the Supplement to Chapter 5 to answer the following questions.

Question:

Refer to CVS Corporation's annual report in the Supplement to Chapter 5 to answer the following questions. (2005 refers to the year ended December 31, 2005, and that 2004 refers to the year ended January 1, 2005.)
1. Consolidated balance sheets:
(a) Did CVS's amount of working capital increase or decrease from 2004 to 2005? By how much?
(b) Did the current ratio improve from 2004 to 2005?
(c) Does the company have long-term investments or ?
(d) Did CVS's debt to equity ratio change from 2004 to 2005?
(e) What is the owner's (shareholders') equity for 2005? How does this amount compare with retained earnings?
2. Consolidated statements of earnings:
(a) Does CVS use a multistep or single-step income statement?
(b) Is it a comparative statement?
(c) What is the trend of net earnings?
(d) How significant are income taxes for CVS?
Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented...