Fill in and calculate all cells that are in pink

Compare and contrast 2005 and 2006 above results. What are the three most important findings or conclusions?

7 Balance Sheet Income Statement Operating Results 8 9 10 2004 2006 11 12 13 Historical 2005 16,707 S 3,131 18,689 6,338 2,218 47,083 S Assets: Cash & Cash equivalents Restricted Cash Notes Receivable Inventory Prepaid Expenses Total Current Assets 19,206 3,131 19,681 7,286 2,226 51,528 14 15 Historical 2004 2005 2006 $ 201,425 249,246 $ 248,518 1,239 2,817 3,524 $ 202,664 $ 252,062 $ 252,042 94,672 125,949 124,131 15,793 18,237 20,079 9,417 9,793 9,706 6,642 6,972 7,763 747 656 803 18,539 20,905 20,659 27,849 28,257 26,658 $ 29,005 $ 41,294 $ 42.243 10,568 8,028 11,081 528 543 715 S 17,910 $ 32,723 S 30,447 7,414 12,830 11,747 $ 10,496 $ 19,893 $ 18,701 s 16 17 Operating Revenues Plus: Other Income Total Revenue & Other Income Less: Crude Oil & Product Purchases Less: Production & Manufacturing Less: Selling, General & Administrative Less: Depreciation & Depletion Less: Exploration Expense Less: Sales Based Taxes Less: Other Taxes & Duties Operating Income Less: Interest Expense Less: Other Non-Operating Expenses Income Before Taxes Less: Taxes Net Income 18 19 Investments & Advances Net Property, Plant & Equipment Other Assets Total Assets 30,140 156,630 10,818 244,671 S 34,205 167,350 9,294 262,378 20 21 $ 22 23 24 25 Liabilities & Owners' Equity: Accounts Payable & Accrued Liabilities Current Portion of Long Term Debt Taxes Payable Total Current Liabilities 24,562 26,534 5,723 56,819 $ 26,576 20,767 5,462 52,805 26 27 S 28 29 30 Long Term Debt Post Retirement Benefit Obligations Accrued Liabilities Deferred Taxes Other Long Term Liabilities Total Long Term Liabilities 82,414 6,950 4,375 14,197 31 81,078 9,473 4,839 14,179 2,725 112,294 32 2,423 33 34 35 S 110,359 $ 36 Total Shareholders' Equity Total Liabilities & Owners' Equity 77,493 244,671 97,279 262,378 37 S S 38 0 0 39 A B I J K L M N 0 D E F G H - Fill in and calculate all cells that are pink-highlighted 61 62 63 Operating Accounts 64 65 Historical Adjustments Historical Adjustments 66 2005 2006 67 68 69 Net Working Capital: Notes Receivable Inventory Prepaid Expenses Less: Accounts Payable & Accrued Liabilities Taxes Payable Net Working Capital 70 71 72 73 74 75 76 77 78 Net Fixed Assets: Investments & Advances Net Property, Plant & Equipment Other Assets Less: Post Retirement Benefit Obligations Accrued Liabilities Deferred Taxes Other Long Term Liabilities Net Fixed Assets 79 80 81 82 83 84 Net Operating Assets 85 86 Financial Accounts 87 88 Historical Historical Adjustments 89 2005 Adjustments 2006 90 91 Net debt Current Portion of Long Term Debt Long Term Debt Less: Cash & Cash Equivalents Restricted Cash Net Debt 92 93 94 95 96 Shareholders' Equity 97 98 Net Capital 99 7 Balance Sheet Income Statement Operating Results 8 9 10 2004 2006 11 12 13 Historical 2005 16,707 S 3,131 18,689 6,338 2,218 47,083 S Assets: Cash & Cash equivalents Restricted Cash Notes Receivable Inventory Prepaid Expenses Total Current Assets 19,206 3,131 19,681 7,286 2,226 51,528 14 15 Historical 2004 2005 2006 $ 201,425 249,246 $ 248,518 1,239 2,817 3,524 $ 202,664 $ 252,062 $ 252,042 94,672 125,949 124,131 15,793 18,237 20,079 9,417 9,793 9,706 6,642 6,972 7,763 747 656 803 18,539 20,905 20,659 27,849 28,257 26,658 $ 29,005 $ 41,294 $ 42.243 10,568 8,028 11,081 528 543 715 S 17,910 $ 32,723 S 30,447 7,414 12,830 11,747 $ 10,496 $ 19,893 $ 18,701 s 16 17 Operating Revenues Plus: Other Income Total Revenue & Other Income Less: Crude Oil & Product Purchases Less: Production & Manufacturing Less: Selling, General & Administrative Less: Depreciation & Depletion Less: Exploration Expense Less: Sales Based Taxes Less: Other Taxes & Duties Operating Income Less: Interest Expense Less: Other Non-Operating Expenses Income Before Taxes Less: Taxes Net Income 18 19 Investments & Advances Net Property, Plant & Equipment Other Assets Total Assets 30,140 156,630 10,818 244,671 S 34,205 167,350 9,294 262,378 20 21 $ 22 23 24 25 Liabilities & Owners' Equity: Accounts Payable & Accrued Liabilities Current Portion of Long Term Debt Taxes Payable Total Current Liabilities 24,562 26,534 5,723 56,819 $ 26,576 20,767 5,462 52,805 26 27 S 28 29 30 Long Term Debt Post Retirement Benefit Obligations Accrued Liabilities Deferred Taxes Other Long Term Liabilities Total Long Term Liabilities 82,414 6,950 4,375 14,197 31 81,078 9,473 4,839 14,179 2,725 112,294 32 2,423 33 34 35 S 110,359 $ 36 Total Shareholders' Equity Total Liabilities & Owners' Equity 77,493 244,671 97,279 262,378 37 S S 38 0 0 39 A B I J K L M N 0 D E F G H - Fill in and calculate all cells that are pink-highlighted 61 62 63 Operating Accounts 64 65 Historical Adjustments Historical Adjustments 66 2005 2006 67 68 69 Net Working Capital: Notes Receivable Inventory Prepaid Expenses Less: Accounts Payable & Accrued Liabilities Taxes Payable Net Working Capital 70 71 72 73 74 75 76 77 78 Net Fixed Assets: Investments & Advances Net Property, Plant & Equipment Other Assets Less: Post Retirement Benefit Obligations Accrued Liabilities Deferred Taxes Other Long Term Liabilities Net Fixed Assets 79 80 81 82 83 84 Net Operating Assets 85 86 Financial Accounts 87 88 Historical Historical Adjustments 89 2005 Adjustments 2006 90 91 Net debt Current Portion of Long Term Debt Long Term Debt Less: Cash & Cash Equivalents Restricted Cash Net Debt 92 93 94 95 96 Shareholders' Equity 97 98 Net Capital 99