An Annual Report as Ready Reference Refer to the excerpts from Kellogg’s annual report reprinted at the back of the book and identify where each of the following users of accounting information would fi rst look to answer their respective questions about Kellogg’s.

1. Investors: How much did the company earn for each share of stock that I own?

Were any dividends paid, and how much was reinvested in the company?

2. Potential investors: What amount of earnings can I expect to see from Kellogg’s in the near future?

3. Suppliers: Should I extend credit to Kellogg’s? Does it have suffi cient cash or cashlike assets to repay accounts payable?

4. IRS: How much does Kellogg’s owe for taxes?

5. Bankers: What is Kellogg’s long-term debt? Should I make a new loan to the company?

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