For this project, you will be using the Publix annual report for the fiscal year ended December 31, 2022, which is available using EDGAR (sec.gov) or a company website at publixstockholder.com. Publix Supermarkets prepares its financial statements according to U.S. GAAP.

n Part 2 of the project, you will write up your conclusions in a formal report, suitable for a partner in a CPA firm or a client of a firm, based on analysis of the information gathered in Part 1. In this phase of the project, you will describe Publixs financial position relative to the financial statement ratios that you calculated in the previous phase of the project. You will also communicate the results of your research into proper accounting treatment of certain financial statement information and answer some questions regarding information contained in the Publix financial statements. Resources The database we will use for the data gathering phase of our project is the WRDS (Wharton Research Data Services) database. This database is a repository for many databases that contain hundreds of thousands of data values for financial statement and stock market data points. We are concerned with financial statement data, such as current assets, current liabilities, and net income from the WRDS database. Case Details You were recently hired as a new staff accountant with the CPA firm of Harper, Kate, and Raye, LLC. You will be looking at the financial statements of one of the firms largest clients, Publix Supermarkets. Using ratio analysis, you will perform some initial reasonableness checks of financial statement data. This will help you and the audit team get a feel for the companys financial position before you begin a detailed audit. Robert Sullivan, the firms partner that you will be working with, wants you to get familiar with the financial accounts and financial reports of Publix so that you can help with the financial statement reviews that are coming up within the next few months. Youve been assigned the task of calculating some industry averages using key metrics from the WRDS database. After