Berkshire Hathaway's acquisition of Burlington Northern Santa Fe (BNSF). Let's take a closer look at Berkshire's acquisition activity.

Go towww.berkshirehathaway.comand click "Annual & Interim Reports." Download the most recent annual report in PDF format.

Click "Acquisition Criteria" in the left margin of the annual report. What are the six criteria Berkshire Hathaway uses to evaluate its acquisitions?

Consider the effect of the BNSF acquisition on Berkshire's revenue and net income. In the left column of the annual report, click "Selected Financial Data for the Past Five Years."

a)Calculate the following changes in "Revenues of railroad, utilities and energy businesses" for the years 2013, 2014, and 2015.

b)Do the same for total revenues and net earnings.

c)In two paragraphs, describe how Berkshire appears to be performing after the large acquisition of BNSF.

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