Using EDGAR (Electronic Data Gathering, Analysis, and Retrieval system), find the annual report (10-K) for Facebook for the year ended December 31, 2019. Locate the “Consolidated Statements of Income” (income statement) and “Consolidated Balance Sheets.” You may also find the annual report at the company’s website.

Required:
1. What is the net balance in property and equipment in the most recent year?
2. What are the amounts reported for (a) goodwill and (b) intangible assets net?
3. What are the balances of (a) gross property and equipment and (b) accumulated depreciation? (Hint: These are in a note about property and equipment.)
4. Which method of depreciation is used?
5. Calculate the profit margin ratio for the current year and last year. Is the company’s profitability increasing or decreasing?