Choose a U.S.-based manufacturing corporation whose company name begging's with the letter "B". Your professor is happy to make suggestions. Go online and locate a recent Annual Report (Form 10-K), review the financial statements and answer the following: 1) What is the fiscal year for the corporation (e.g. January 1 to December 31)? 2) Using the accounting equation (Total Assets = Total Liabilities + Total Stockholders' Equity) found on the balance sheet, what is the accounting equation for the most recent year? 3) What is the percentage of total debt (liabilities) to total assets for each year (this is called the debt percentage)? Did the debt percentage increase (ratio of total debt to total asset), decrease or stay the same from the prior year to the current year? What do these numbers say about the company? 4) Compute the current ratio [Current Assets divided by Current Liabilities] for each fiscal year included on the balance sheet. What do these numbers say about the company? 5) For the Statement of Cash Flows: using totals for each category, what is the cash flows equation for the most recent year? 6) For the Statement of Cash Flows, do the reported cash flows for operating activities and investing activities for each year follow the normal pattern for these sections (i.e. operating is usually a positive number, investing is usually a negative number)? 7) What amount of net income is reported for each fiscal year? What is the percentage change in net income from one year to the next? 8) Did the company declare or pay dividends in any year covered in the report? 9) For the "Report of Independent Public Accountants (Auditors)": What accounting firm audited the company's financial statements? 10) Required for full credit: To obtain the maximum points available, speed-read the text of the annual report and describe at least one instance where the text makes reference to "fixed costs" "raw materials" "variable costs" "standard costs" or any other reference to costs. On what page of the report is this text located? You can find an annual report by going to a corporation's website, or by using Yahoo Finance, or go to Google and type in "Starbucks Annual Report" or similar. Please include the Internet link where the annual report may be found, but please DO NOT INCLUDE copies of the report itself. Please submit your project answers by no later than May 9, 2021. 3 Extra-Credit Questions: i) How many notes to the financial statements are presented for the most recent year? ii) The first note to the financial statements lists and describes significant accounting policies. Identify and summarize two accounting policies. iii) Choose two of the notes (other than the first note) and briefly summarize them.