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tel:24%2025%2026%2027%2028%2029%2030 NOTE: 2016 BALANCE SHEET INFORMATION SHOULD BE USED ONLY FOR RATIOS G H 2 As Reported Annual Balance Sheet 3 Report Date n A 2019 2018 2017 2016 Scale Thousands Thousands Thousands Thousands 5 Cash & temporary cash investments 399,000 429,000 347,000 6 Store deposits in-transit 322,000 7 Receivables ,179,000 1,706,000 1,181,000 , 161,000 1,589,000 910,000 8 Inventory ,637,000 1,649,000 9 Assets held for sale 7,084,000 6,846,000 6,533,000 0 166,000 604,000 6,561,000 0.00 10 Prepaid & other current assets 522,000 592,000 835,000 11 Total current assets 10,890,000 10,803,000 898,000 11,117,000 12 Property, plant & equipment, net 21,871,000 10,340,000 21,635,000 6,814,000 21,071,000 13 Operating lease assets 0 21,016,000 14 Intangibles, ne 1,066,000 1,258,000 , 100,000 15 Goodwill 3,076,000 3,087,000 1,153,000 2,925,000 3,031,000 16 Other assets 1,539,000 984,000 17 Total assets 45,256,000 1,335,000 38,118,000 965,000 37,197,000 36,505,000 18 19 Liabilities 20 Current portion of long-term debt including obligation 1,965,000 0 0 21 Current portion of long-term debt including obligation 3,157,000 3,560,000 0 22 Current portion of operating lease liabilities 597,000 2,252,000 23 Trade accounts payable 6,349,000 0 6,059,000 0 5,858,000 24 Accrued salaries & wages 1, 168,000 5,818,000 ,227,000 1,099,000 25 Deferred income taxes ,234,000 0 251,000 26 Liabilities held for sale 51,000 259,000 27 Other current liabilities 4,164,000 3,780,000 3,421,000 28 Total current liabilities 14,243,000 14,274,000 3,305,000 29 Noncurrent operating lease liabilities 14,197,000 6,505,000 12,860,000 30 Long-term debt including obligations under finance | 12, 111,000 0 0 0 31 Long-term debt including obligations under capital I 0 12,072,000 12,029,000 1,466,000 1,562,000 11,825,000 32 Deferred income taxes 1,568,000 33 Pension & postretirement benefit obligations 608,000 494,000 1,927,000 34 Other long-term liabilities 792,000 1,750,000 1,881,000 1,524,000 1,706,000 35 Total liabilities 36,683,000 30,283,000 1,659,000 30,292,000 36 29,795,000 37 Common shares 1,918,000 1,918,000 38 Additional paid-in capital 3,337,000 1,918,000 3,245,000 1,918,000 39 Accumulated other comprehensive income (loss) 3,161,000 (640,000 (346,000 3,070,000 40 Retained earnings (accumulated deficit 20,978,000 (471,000 19,681,000 (715,000) 17,007,000 41 Common shares in treasury, at cos 16,991,000 16,612,000 15,543,000 14,684,000 42 Noncontrolling interests (29,000) (51,000 13,1 18,000 (26,000) 12,000 43 Total equity (deficit 8,573,000 44 7,835,000 6,905,000 6,710,000 45 46 47 Additional Information 48 Net cash flows from operating activities 4,664,000 4,164,000 3,413,000 49 4,272,000 50 Land 3,299,000 3,254,000 3,201,000 51 Buildings & land improvements 12,553,000 3,197,000 52 Equipment 12,245,000 12,072,000 11,643,000 15,031,000 14,277,000 635,000 63 Leasehold improvements 10,832,000 10,306,000 13,495,000 9,773,000 54 Construction-in-progress 3, 166,000 9,342,000 2,050,000 65 Leased property under capital leases & financing ob 2,716,000 966,000 1,066,000 1,979,000 1,000,000 932,000 56 Total property, plant & equipment $7 Accumulated depreciation & amortization 45,84/ 43,864,000 41,731,000 23,976,000 40,588,000 58 Property, plant & equipment, net 21,871,00 22,229,000 20,660,000 21,635,000 19,572,000 21,071,000 21,016,000A B C D E F As Reported Annual Income Statement N Report Date 2019 2018 2017 Scale Thousands Thousands Thousands Sales 122,286,000 121, 162,000 122,662,000 Cost of sales 95,294,000 94,894,000 95,662,000 Gross Profit 26,992,000 26,268,000 27,000,000 Operating, general & administrative 21,208,000 20,305,000 21,568,000 Rent 884,000 884,000 911,000 Depreciation & amortization 2,649,000 2,465,000 2,436,000 10 Operating profit (loss) 2,251,000 2,614,000 2,085,000 11 Interest expense 603,000 620,000 601,000 12 Non-service component of company-sponsored pension plan costs 0 26,000 13 Mark to market gain (loss) on Ocado International Holdings Limited & Ocad 157,000 228,000 14 Gain on sale of businesses 176,000 1,782,000 o o O 15 Net earnings before income tax expense (benefit) 1,981,000 3,978,000 1,484,000 16 Income tax expense (benefit) 469,000 900,000 (405,000) 17 Net earnings after income tax expense (benefit) 1,512,000 3,078,000 1,889,000 18 Net earnings (loss) attributable to noncontrolling interests 147,000 32,000 18,000 19 Net earnings (loss) attributable to The Kroger Co. 1,659,000 3,110,000 1,907,000 20 21 22 23 Additional Information 24 25 Weighted average shares outstanding - basic 799,000 810,000 895,000 26 Weighted average shares outstanding - diluted 805,000 818,000 904,000 27 Year end shares outstanding 788,000 798,000 870,000Project The required tasks are detailed below: (1) Prepare vertical common-size income statements and balance sheets for both companies. Note: Use \"Total Sales\" and \"Total Assets\" as the denominators for income statement and balance sheet, respectively. Compute for 2019, 2018, and 2017. (2) Prepare horizontal analysis on income statements and balance sheets for both companies for 2019 and 2018. (3) Prepare ratio analyses (for 2019, 2018, and 2017) for both companies. You should include the following ratios in your computations: - Protability ratios 0 Gross Prot margin 0 Prot margin 0 Return on assets 0 Return on equity 0 Productivity 0 Inventory Turnover 0 Accounts Receivable Turnover o PPE Turnover 0 Asset Turnover o Solvency o Debt-to-equity 0 Times interest earned 0 Return on Financial leverage 0 Liquidity 0 Current Ratio 0 Quick Ratio 0 Operating cash ow to current liabilities 0 Working capital (3) Comment on the analytical results of the two companies based on your work in excel. In addition to contrasting the ratios between the companies, you should interpret the numbers and make suggestions as to why the ratio of one company might be higher/lower than the other. B D W N - G NOTE: 2016 BALANCE SHEET INFORMATION SHOULD BE USED ONLY FOR RATIOS As Reported Annual Balance Sheet Report Date 2019 2018 2017 2016 4 Scal Thousands Thousands I housands Thousands 5 Assets 6 Cash & cash equivalents 9,465,000 7.722,000 6,756,000 6,284,000 6,867,000 7 Receivables, net 6,283,000 5,614,000 5,835,000 8 Inventories 4,435,000 1,622,000 14,269,000 3,783,000 43,046,000 9 Prepaid expenses & other current assets 3,623,000 3,511,000 1,941,000 0 Total current assets 1,806,000 61,897,000 59,664,000 11 Property & equipment, net $7,689,000 105,208,000 104,317,000 107,675,000 107,710,000 12 Operating lease right-of-use assets 7,424,000 0 13 Finance lease right-of-use assets, net 4,417,000 14 Property under capital lease & financing obligations, net 7,078,000 7,143,000 15 Goodwill 31,073,000 6,468,000 31,181,000 16 Other long-term assets 6,567,000 14,822,000 18,242,000 7,037,000 11,798,000 9,921,000 17 Total assets 236,495,000 18 219,295,000 204,522,000 198,825,000 19 20 Liabilities & Equity 21 Short-term borrowings 22 Accounts payable 575,000 5,225,000 5,257,000 16,973,000 1,099,000 47,060,000 16,092,000 23 Accrued liabilities 22,296,000 22, 159,000 22,122,000 41,433,000 24 Accrued income taxes 280,000 428,000 20,654,000 5,362,000 645,000 25 Long-term debt due within one year 1,876,000 3,738,000 921,000 26 Operating lease obligations due within one year 1,793,000 2,256,000 27 Finance lease obligations due within one year 511,000 o 28 Capital lease & financing obligations due within one year 0 729,000 667,000 29 Total current liabilities 77,790,000 565,000 17,477,000 78,521,000 66,928,000 30 Long-term debt 43,714,000 43,520,000 30,045,000 31 Long-term operating lease obligations 36,015,000 16, 171,00 32 Long-term finance lease obligations 4,307,000 33 Long-term capital lease & financing obligations 6,683,000 6,780,000 6,003,000 34 Deferred income taxes & other liabilities 2,961,000 0 11,981,000 8,354,000 9,344,000 35 Total Liabilities 36 54,943,000 139,661,000 123,700,000 118,290,000 37 Common stock 284,000 288,000 295,000 38 Capital in excess of par value 3,247,000 305,000 ,965,000 2,648,000 39 Retained earnings (accumulated deficit) 2,371,000 33,943,000 80,785,000 40 Accumulated other comprehensive income (loss) 85,107,000 89,354,000 41 Noncontrolling interest 12,805,000 (11,542,000) 6,883,000 (10,181,000) 14,232,000) 2,953,000 42 Total equity 43 31,552,000 7,138,000 79,634,000 80,822,000 2,737,000 80,535,000 44 45 Additional Information 46 Net cash flows from operating activities 25,255,000 47 27,753,000 28,337,000 31,530,000 18 Land 24,619,000 24,526,000 25,298,000 24,801,000 49 Buildings & improvements 105,674,000 101,006,000 101,155,000 98,547,000 50 Fixtures & equipment 58,607,000 51 Transportation equipment 54,488,000 52,695,000 8,998,000 2,377,000 2,316,000 2,387,000 2,845,000 52 Construction in progress 3,751,000 3,474,000 3,619,000 4,301,000 53 Property & equipment, gross 64 Less: accumulated depreciation 95,028,000 185,810,000 185,154,000 89,820,000 81,493,000 179,492,000 55 Property & equipment, net 05,208,000 77,479,000 104,317,000 71,782,000 107,675,000 107,710,000A B C D E F As Reported Annual Income Statement W N Report Date 2019 2018 2017 Scale Thousands Thousands Thousands OF A Net sales 519,926,000 510,329,000 495,761,000 Membership & other income 4,038,000 4,076,000 4,582,000 Total revenues 523,964,000 514,405,000 500,343,000 Cost of sales 394,605,000 385,301,000 373,396,000 Gross Profit 129,359,000 129,104,000 126,947,000 Operating, selling, general & administrative expenses 108,791,000 107,147,000 106,510,000 10 Operating income (loss) 20,568,000 21,957,000 20,437,000 11 Interest expense on debt 2,262,000 1,975,000 1,978,000 12 Interest expense on finance, capital lease & financing obligations 337,000 371,000 352,000 13 Interest income 189,000 217,000 152,000 14 Gain (loss) on extinguishment of debt 0 0 3,136,000 15 Other gains & (losses 1,958,000 (8,368,000) 0 16 Income (loss) before income taxes 20,116,000 11,460,000 15,123,000 17 Provision (benefit) for income taxes 4,915,000 4,281,000 4,600,000 18 Income (loss) after income taxes 15,201,000 7,179,000 10,523,000 19 Less consolidated net income attributable to noncontrolling interest (320,000) (509,000) (661,000) 20 Net Income 14,881,000 6,670,000 9,862,000 21 22 23 24 Additional Information 25 26 Weighted average shares outstanding - basic 2,850,000 2,929,000 2,995,000 27 Weighted average shares outstanding - diluted 2,868,000 2,945,000 3,010,000 28 Year end shares outstanding 2,832,000 2,878,000 2,952,000