1. Suppose you wanted to compare the fiscal year 2013 revenue of Hewlett Packard (HP) with the fiscal year 2013 revenue of Dell. Which numbers would you compare? Which financial statement provides more information, Dell or HP? Why? What might you infer from the disclosure differences on the income statement?

2. Using only the information provided, which company has higher gross margin percentages on computer sales? Which company has higher computer sales growth? As a percentage of total revenue, which company has higher SG&A? Higher R&D? Higher operating expenses? What do these differences tell you about the operations of these two companies?

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES Consolidated Statements of Stockholders' Equity Equity Total Common Stock Accumulated Additional Other Total HP Non- Number of Paid-in Retained Comprehensive Stockholders' controlling Shares Par Value Capital Earnings (Loss) Income Interests In millions, except number of shares in thousands 2,203,898 $22 $11,569 $ 32,695 S(3,837) $ 40,449 $332 7,074 7,074 339 7,413 339 $ 40,781 7,074 339 7,413 Balance October 31, 2010 Net earnings Other comprehensive income Comprehensive income Issuance of common stock in connection with employee stock plans and other Repurchases of common stock Tax benefits from employee stock plans Cash dividends declared ... Stock-based compensation expense Changes in non-controlling interest Balance October 31, 2011 45,461 (258,853) 1 (3) 752 751 (6,296) 128 (3,669) (9,968) 128 (834) 685 752 (9,968) 128 (834) ) 685 47 (834) 685 47 1,990,506 $20 $ 6,837 $35,266 (12,650) S(3,498) $379 Net loss... (2,061) $ 38,625 (12,650) (2,061) (14,711) $ 39,004 (12,650) (2,061) (14,711) 39,068 (66,736) 682 (1,525) (175) 1 (101) 683 (1,626) (175) (995) 635 (995) 683 (1,626) (175) (995) 635 18 635 18 $397 1,962,838 $20 Other comprehensive loss Comprehensive loss Issuance of common stock in connection with employee stock plans and other Repurchases of common stock Tax deficiency from employee stock plans Cash dividends declared ...... Stock-based compensation expense Changes in non-controlling interest Balance October 31, 2012 Net earnings.. Other comprehensive income Comprehensive income Issuance of common stock in connection with employee stock plans and other .. Repurchases of common stock Tax deficiency from employee stock plans Cash dividends declared ..... Stock-based compensation expense Changes in non-controlling interest Balance October 31, 2013 $ 6,454 $ 21,521 5,113 $(5,559) 1,781 $ 22,436 5,113 1,781 6,894 $ 22,833 5.113 1,781 6,894 (2) 22,950 (77,905) ( (1) 210 (1,550) (149) 208 (1,546) (149) (1,074) 500 (1,074) 208 (1,546) (149) (1,074) 500 (10) $ 27,656 500 (10) $387 1,907,883 $19 $ 5,465 $ 25,563 S(3,778) (03,78 $ 27,269 Exhibit A (continued): Hewlett Packard 2013 10-K Selected Disclosures HEWLETT-PACKARD COMPANY AND SUBSIDIARIES Consolidated Statements of Comprehensive Income For the fiscal years ended October 31 2012 2011 In millions $5,113 $(12,650) $7,074 2013 Net earnings (loss) Other comprehensive income (loss) before tax: Change in unrealized gains on available-for-sale securities: Unrealized gains arising during the period Gains reclassified into earnings.. 25 17 52 (49) 25 17 Change in unrealized (losses) gains on cash flow hedges: Unrealized (losses) gains arising during the period Losses (gains) reclassified into earnings (243) 106 (137) 335 (399) (64) (374) 658 284 Change in unrealized components of defined benefit plans: Gains (losses) arising during the period Amortization of actuarial loss and prior service benefit Curtailments, settlements and other Change in cumulative translation adjustment Other comprehensive income (loss) before taxes (Provision) benefit for taxes Other comprehensive income (loss), net of tax Comprehensive income (loss) 1,953 (2,457) (289) 326 172 174 25 122 2,304 (2,163) (113) (150) (47) 66 2.020 (2,249) 254 (239) 188 85 1.781 (2,061) 339 $6,894 $(14,711) $7,413 Exhibit B: Dell Incorporated 2013 10-K Disclosures NOTE 1 - DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business - Dell Inc., a Delaware corporation (both individually and together with its consolidated subsidiaries, Dell"), offers a broad range of technology solutions, including servers and networking products, storage products, services, software and peripherals, mobility products, and desktop PCs. Dell's business segments are Large Enterprise, Public, Small and Medium Business ("SMB"), and Consumer. References to the Commercial business refer to Large Enterprise, Public, and SMB. Fiscal Year - Dell's fiscal year is the 52 or 53 week period ending on the Friday nearest January 31. The fiscal year ended February 1, 2013 ("Fiscal 2013") included 52 weeks, while the fiscal years ended February 3, 2012 ("Fiscal 2012") and January 28, 2011 ("Fiscal 2011") included 53 weeks and 52 weeks, respectively. DELL INC. CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share amounts) February 1, 2013 Fiscal Year Ended February 3, 2012 January 28, 2011 S S $ 44,744 12,196 56,940 49,906 12,165 62,071 50,002 11,492 61,494 36,683 8,071 44,754 12,186 39,689 8,571 48,260 13,811 42,068 8,030 50,098 11,396 Net revenue: Products Services, including software related Total net revenue Cost of net revenue: Products Services, including software related Total cost of net revenue Gross margin Operating expenses: Selling, general, and administrative Research, development, and engineering Total operating expenses Operating income Interest and other, net Income before income taxes Income tax provision Net income Earnings per share: Basic Diluted Cash dividends declared per common share Weighted-average shares outstanding: Basic Diluted 8,102 1,072 9,174 3,012 (171) 2,841 469 2,372 8,524 856 9,380 4,431 (191) 4,240 748 3,492 7,302 661 7,963 3,433 (83) 3,350 715 2,635 S S S S S 1.90 1.36 1.35 1.36 1.35 S S 1.88 S S 0.16 S 1,745 1,755 1.838 1,853 1,944 1,955 Exhibit B (continued): Dell Incorporated 2013 10-K Disclosures DELL INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (in millions) Common Send Capital of Par Value Treasury Stock Am Retained Farming Nering Tau Am Accumulated Other Compre Icema (37) S 3,351 Shares 919 s 11,472 $ (27,904) $ 22,110 Tulu Kapality 5,641 2,635 (1) S Total Equity 5.641 2,635 2,635 (1) (1) (1) (1) 79 (1) 79 79 (112) (112) 2,600 7 (112) 2,600 18 7 7 57 (800) (800) 332 (14) 11,797 332 (14) 7,766 3,492 III (800) 332 (14) 7,766 3,492 3,369 976 (28,704) (71) 24,744 3,492 13 (74) 13 (74) 13 (74) 71 Balances at January 29, 2010 Net income Adjustment to consolidate variable interest entities Change in net unrealized gain or loss on investments, net of taxes , Foreign currency translation adjustments Change in net unrcalized gain or loss on derivative instruments, net of taxes Total comprehensive income Stock issuances under employee plans and other Repurchases of common stock Stock-based compensation related Net tax shortfall from employee stock plans Balances at January 28, 2011 Net income Change in net unrealized gain or loss on investments, net of taxes , Foreign currency translation adjustments Change in net unrealized gain or loss on derivative instruments, net of taxes Total comprehensive income Stock issuances under employee plans and other Repurchases of common stock Stock-based compensation related Net tax shortfall from employee stock plans Balances at February 3, 2012 Net income Change in net unrealized gain or loss on investments, net of taxes Foreign currency translation adjustments Change in net unrealized gain or loss on derivative instruments, net of taxes Total comprehensive income Stock issuances under employee plans and other Repurchases of common stock Cash dividends declared Stock-based compensation related Net tax shortfall from employee stock plans Noncontrolling interest assumed through acquisitions Balances at February 1, 2013 IIIIIIIIIIIIIII|||||||| 21 33 178 (2,741) 71 3,502 33 (2,741) 365 (8) 8,917 2,372 71 3,502 33 (2,741) 365 (8) 8,917 2,372 365 (8) 12.187 3.390 1,154 (31,445) (61) 28,236 2,372 (6) (33) (6) (33) (6) (33) 41 41 2,374 36 23 36 46 (700) (700) (278) 2,374 36 (700) (278) 358 (27) 358 (27) (278) 358 (27) 21 21 21 3,413 12,554 1.200 $ (32,145) $ 30,330 (59) S 10,680 $ $ 10,701 Issued shares include 475 million shares of common stock that were issued to a wholly-owned subsidiary during Fiscal 2007. As these shares are held by a wholly-owned subsidiary, they are not included in outstanding shares in our Consolidated Financial Statements. 6) Stock issuance under employee plans is net of shares withheld for employee taxes. ITEM 1. Business. We are a leading global provider of products, technologies, software, solutions and services to individual consumers, small and medium-sized businesses ("SMBs), and large enterprises, including customers in the government, health and education sectors. Our offerings span the following: personal computing and other access devices; imaging and printing-related products and services; enterprise information technology (IT) infrastructure, including enterprise server and storage technology, networking products and solutions, technology support and maintenance; multi-vendor customer services, including infrastructure technology and business process outsourcing, application development and support services, and consulting and integration services, and . IT management software, information management solutions and security intelligence/risk management solutions. HEWLETT-PACKARD COMPANY AND SUBSIDIARIES Consolidated Statements of Earnings For the fiscal years ended October 31 2013 2012 2011 In millions, except per share amounts $ 72,398 $ 77,887 $ 84,757 39,453 42,008 42,039 447 462 449 112,298 120,357 127,245 2,266 Net revenue: Products Services Financing income Total net revenue Costs and expenses: Cost of products Cost of services Financing interest Research and development Selling, general and administrative Amortization of intangible assets Impairment of goodwill and intangible assets Restructuring charges Acquisition-related charges Total operating expenses Earnings (loss) from operations Interest and other, net Earnings (loss) before taxes Provision for taxes. Net earnings (loss) Net earnings (los) per share: Basic ... Diluted Weighted-average shares used to compute net earnings (Loss) per share: Basic 55,632 59,468 65.167 30,436 32.600 31.945 312 317 306 3.135 3,399 3,254 13,267 13,500 13,577 1,373 1,784 1,607 18,035 885 990 645 22 45 182 105,167 131,414 117,568 7,131 (11,057) 9,677 (621) (876) (695) 6,510 (11,933) 8,982 (1,397) (717) (1,908) $ 5,113 $(12,650) $ 7,074 $ 2.64 $ (6.41) S 3.38 2.62 $ (6.41) $ 3.32 1.934 2,094 1,974 1,974 Diluted 1,950 2.128