General Motors (GM) remains the world's Number I maker of cars and trucks, including the Buick, Cadillac,

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General Motors (GM) remains the world's Number I maker of cars and trucks, including the Buick, Cadillac, Chevrolet. GMC. Oldsmobile. Pontiac, and Saturn brands. 1. In the past, General Motors has also been ranked Number I in the Fortune 500 listing. Go to http://www.Fortune.com and under "Lists" click on Fortune 500. What is GM's Fortune 500 ranking this year? 2. Click on General Motors and then click on the URL for GM. www.gm.com, and go to GM's Web site. Click on The Company followed by Investor Information. Select the most recent annual report and watch the video show. Use the information in the annual report to answer the following questions.

a. Read the "Letter to Stockholders." Did GM have a good year? Give the basis for your evaluation.

b. Refer to the "Consolidated Statements of Income for General Motors Corporation and Subsidiaries. For the two most recent years, list the amounts reported for "Total net sales and revenues" and "Cost of sales and other operating expenses." For each year. calculate gross profit. Comment on the trend of gross profit, what the trend indicates. and whether the trend is favorable or unfavorable.

c. Refer to the "Consolidated Balance Sheets for General Motors Corporation and Subsidiaries. For the two most recent years, list the amounts reported for "Inventories." For the most recent year, calculate the rate of inventory turnover. On average, how many days does GM hold inventory before selling it?

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