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Inline XBRL HTML Form is over 7.5MB, performance may be affected. December 31, 2021 December 31, 2020 19,384 Assets Current assets Cash and cash equivalents Short-term marketable securities Accounts receivable, net Inventory Prepaid expenses and other current assets Total current assets Operating lease vehicles, net Solar energy systems, net Property, plant and equipment, net Operating lease right-of-use assets Digital assets, net Intangible assets, net Goodwill Other non-current assets Total assets Liabilities Current liabilities Accounts payable Accrued liabilities and other Deferred revenue Customer deposits Current portion of debt and finance leases Total current liabilities Debt and finance leases, nct of current portion Deferred revenue, net of current portion Other long-term liabilities Total liabilities 17,576 $ 131 1,913 5,757 1,723 27,100 4,511 5,765 18,884 2,016 1,260 257 200 2,138 62,131 $ 1,886 4,101 1,346 26,717 3,091 5,979 12,747 1,558 313 207 1,536 52,148 10,025 5,719 1,447 925 1,589 19,705 5,245 2,052 3,546 30.548 6,051 3,855 1,458 752 2,132 14,248 9,556 284IR Inline XBRL HTML Form is over 7.5MB, performance may be affected. 19,705 5,245 2,052 3,546 30,548 14,248 9,556 1,284 3,330 28,418 568 604 51 Total current liabilities Debt and finance leases, net of current portion Deferred revenue, net of current portion Other long-term liabilities Total liabilities Commitments and contingencies (Note 15) Redeemable noncontrolling interests in subsidiaries Convertible senior notes (Note 11) Equity Stockholders' equity Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding Common stock; 50.001 par value; 2,000 shares authorized; 1,033 and 960 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively Additional paid-in capital Accumulated other comprehensive income Retained earnings (accumulated deficit) Total stockholders' equity Noncontrolling interests in subsidiaries Total liabilities and equity 11 III 29,803 54 331 30,189 826 1 27,260 363 (5,399 22,225 850 52,148 $ 62,131 $ The accompanying notes are an integral part of these consolidated financial statements. 49 ACC 215 Financial Report 150 Point Assignment! Step 1: Select your companies. You may pick any two companies - examples are included at the end of this assignment. However, they must be from the same industry! Use the SIC as your guide to the industry not your intuition. Step 2: Locate and download (optional) your companies' form 10-K. The 10-K is an annual filing required by the Securities and Exchange Commission of all U.S. publicly traded companies. Among other things, the 10-K includes a public company's financial statements under Item 8 in the table of contents. They are available at gov. We will have a class session that walks you through locating form 10-K. WARNING: 10-K's may be HUNDREDS of pages long. You will only need to print a few selected pages from each item. Be careful before you hit "Print." Step 3: You will need the income statements and balance sheets for each of your companies for the most recent years available. Enter the income statements and balance sheets for your companies in an Excel spreadsheet. Use a separate worksheet for each company but only one workbook. Step 4: Complete the following financial analysis tools with each clearly labeled as noted below in your Excel document: 1. Perform a vertical analysis of each company for both years. The process for doing this will be discussed in class. 2. Perform a horizontal analysis of each company for the most recent year. The process for doing this will be discussed in class. 3. Obtain carnings per share (EPS) - EPS is the amount of net income earned per share of the company's common stock. You will not have to calculate EPS figures because they are provided at the end of the company's income statement. Use the figures identified as "Basic EPS" for all operations. Calculate the price earnings (PE) ratio for the most recent two years. To do this, go to Google Finance and search for historical stock prices for your company. Use the closing date for the company (such as December 31, 2020). If the closing date is not a day when markets are open, use the first day available before the closing date. The information on calculating and analyzing the PE ratio is on page 426 and 504 of your text. 4. Current ratio - Calculate the current ratio for each company for both years. The current ratio measures a company's liquidity. It is a proportion of current assets to current liabilities. Your book offers information about the current ratio on page 109 as well as on page 500. As is shown on page 109, be sure to provide the results of your calculations to two places after the decimal point. This is not a percentage. 5. Calculate the acid-test ratio for each company for both years. Similar to the current ratio, the acid test ratio also measures a company's liquidity. The ratio is discussed on page 158 in your text. This is not a percentage and should be expressed two places after the decimal place. On page 159, the answer for the current year for Nike would be 1.80. 6. Calculate the debt ratio for each company for each year. The debt ratio reflects a company's ability to meet its long-term obligations. Details about this ratio are provided on Page 63. NOTE: The example shows a result of .60 for the current year. That figure is really a percentage and should be reported with two places after the decimal point (69.51%). Be sure to report your debt ratio results in this format. 7. Calculate return on assets (ROA) for each company for the most recent year. ROA is a measure of how well a company uses its assets to produce profit. This ratio is discussed on Page 19 of your text. Again, be sure to report your results to two places after the decimal point. The result the calculation shown on Page 19 is 18.99%. 8. Calculate retum on equity (ROE) for each company for the most recent year. ROE is a measure of the company's return for investors. Return on (common stockholders) equity is discussed on page 504 in your text. This should be presented as a percentage to two decimal places such as 10.25%. Step 5: Prepare your financial report in Word. a) First, introduce your companies and their industry or sector. Explain why you chose the companies that you did. b) In the body of your paper, one by one, discuss each item, what it means, and describe how each of your companies performed regarding that measure. The financial items may be discussed in the same order as listed. Reference each companies' actual ratio or analysis tool result. For the vertical and horizontal analyses, discuss the items you believe to be significant. c) Once all eight calculations and financial measures and the companies results have been discussed, determine which company would be a better investment and why using the results of your analysis. Your reasoning does not have to be limited to the financial information discussed in your report. You may address other financial or non-financial factors. However, you must include discussion of the eight measures. d) Format of your report: Provide a cover page for your report that includes your name and the names of the companies you chose to analyze. Prepare the body of your report in Times New Roman 14 font (like this document). Use single-spacing with one-inch margins. You may use any font you wish to prepare the table within your report. When completed, your cover page and report must be in one Word file. e) References: I expect you to locate the information in each company's 10K, so "Googled" answers are not acceptable and will result in a zero grade. In the introduction to your report, indicate the URL for each 10-K you utilized f) Submit your report as an Excel document and a Word document in Black Board Company Selection Financial analysis of company performance is usually done by industry. Therefore, your selection of companies must be from the same industry. Go by the SIC not intuition! Use the most recent 10-k for your project. Examples: Retailer Department Stores - SIC 5311 Kohls Macy's Urban Outfitters American Eagle Buckle Shoe Carnival Foot Locker Target Walmart Dean Foods Lifeway Foods Food Processing - SIC 2015 Pilgrim's Pride Tyson Foods Hormel Foods Corp Beverages - SIC 2080 Pepsico Coca Cola Keurig Dr. Pepper, Inc. Sports Apparel Manufacturers - SIC 2300 Lululemon Under Amour Nike, Inc. Crocs, Inc. Hotels and Motels - SIC 7011 Marriott International, Inc. Wyndham Destinations, Inc. Automotive Manufacturers - SIC 3711 Tesla Ford Motor Co General Motors Co Dell Electronic Computers - SIC 3571 Fitbit IBM HP (You may not use Apple) Pharmaceutical - SIC 2834 Eli Lilly & Co Bristol Myers Squibb Co Aluminum Producers - SIC 3334 Alcoa Corp Century Aluminum Co Inline XBRL HTML Form is over 7.5MB, performance may be affected. December 31, 2021 December 31, 2020 19,384 Assets Current assets Cash and cash equivalents Short-term marketable securities Accounts receivable, net Inventory Prepaid expenses and other current assets Total current assets Operating lease vehicles, net Solar energy systems, net Property, plant and equipment, net Operating lease right-of-use assets Digital assets, net Intangible assets, net Goodwill Other non-current assets Total assets Liabilities Current liabilities Accounts payable Accrued liabilities and other Deferred revenue Customer deposits Current portion of debt and finance leases Total current liabilities Debt and finance leases, nct of current portion Deferred revenue, net of current portion Other long-term liabilities Total liabilities 17,576 $ 131 1,913 5,757 1,723 27,100 4,511 5,765 18,884 2,016 1,260 257 200 2,138 62,131 $ 1,886 4,101 1,346 26,717 3,091 5,979 12,747 1,558 313 207 1,536 52,148 10,025 5,719 1,447 925 1,589 19,705 5,245 2,052 3,546 30.548 6,051 3,855 1,458 752 2,132 14,248 9,556 284IR Inline XBRL HTML Form is over 7.5MB, performance may be affected. 19,705 5,245 2,052 3,546 30,548 14,248 9,556 1,284 3,330 28,418 568 604 51 Total current liabilities Debt and finance leases, net of current portion Deferred revenue, net of current portion Other long-term liabilities Total liabilities Commitments and contingencies (Note 15) Redeemable noncontrolling interests in subsidiaries Convertible senior notes (Note 11) Equity Stockholders' equity Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding Common stock; 50.001 par value; 2,000 shares authorized; 1,033 and 960 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively Additional paid-in capital Accumulated other comprehensive income Retained earnings (accumulated deficit) Total stockholders' equity Noncontrolling interests in subsidiaries Total liabilities and equity 11 III 29,803 54 331 30,189 826 1 27,260 363 (5,399 22,225 850 52,148 $ 62,131 $ The accompanying notes are an integral part of these consolidated financial statements. 49 ACC 215 Financial Report 150 Point Assignment! Step 1: Select your companies. You may pick any two companies - examples are included at the end of this assignment. However, they must be from the same industry! Use the SIC as your guide to the industry not your intuition. Step 2: Locate and download (optional) your companies' form 10-K. The 10-K is an annual filing required by the Securities and Exchange Commission of all U.S. publicly traded companies. Among other things, the 10-K includes a public company's financial statements under Item 8 in the table of contents. They are available at gov. We will have a class session that walks you through locating form 10-K. WARNING: 10-K's may be HUNDREDS of pages long. You will only need to print a few selected pages from each item. Be careful before you hit "Print." Step 3: You will need the income statements and balance sheets for each of your companies for the most recent years available. Enter the income statements and balance sheets for your companies in an Excel spreadsheet. Use a separate worksheet for each company but only one workbook. Step 4: Complete the following financial analysis tools with each clearly labeled as noted below in your Excel document: 1. Perform a vertical analysis of each company for both years. The process for doing this will be discussed in class. 2. Perform a horizontal analysis of each company for the most recent year. The process for doing this will be discussed in class. 3. Obtain carnings per share (EPS) - EPS is the amount of net income earned per share of the company's common stock. You will not have to calculate EPS figures because they are provided at the end of the company's income statement. Use the figures identified as "Basic EPS" for all operations. Calculate the price earnings (PE) ratio for the most recent two years. To do this, go to Google Finance and search for historical stock prices for your company. Use the closing date for the company (such as December 31, 2020). If the closing date is not a day when markets are open, use the first day available before the closing date. The information on calculating and analyzing the PE ratio is on page 426 and 504 of your text. 4. Current ratio - Calculate the current ratio for each company for both years. The current ratio measures a company's liquidity. It is a proportion of current assets to current liabilities. Your book offers information about the current ratio on page 109 as well as on page 500. As is shown on page 109, be sure to provide the results of your calculations to two places after the decimal point. This is not a percentage. 5. Calculate the acid-test ratio for each company for both years. Similar to the current ratio, the acid test ratio also measures a company's liquidity. The ratio is discussed on page 158 in your text. This is not a percentage and should be expressed two places after the decimal place. On page 159, the answer for the current year for Nike would be 1.80. 6. Calculate the debt ratio for each company for each year. The debt ratio reflects a company's ability to meet its long-term obligations. Details about this ratio are provided on Page 63. NOTE: The example shows a result of .60 for the current year. That figure is really a percentage and should be reported with two places after the decimal point (69.51%). Be sure to report your debt ratio results in this format. 7. Calculate return on assets (ROA) for each company for the most recent year. ROA is a measure of how well a company uses its assets to produce profit. This ratio is discussed on Page 19 of your text. Again, be sure to report your results to two places after the decimal point. The result the calculation shown on Page 19 is 18.99%. 8. Calculate retum on equity (ROE) for each company for the most recent year. ROE is a measure of the company's return for investors. Return on (common stockholders) equity is discussed on page 504 in your text. This should be presented as a percentage to two decimal places such as 10.25%. Step 5: Prepare your financial report in Word. a) First, introduce your companies and their industry or sector. Explain why you chose the companies that you did. b) In the body of your paper, one by one, discuss each item, what it means, and describe how each of your companies performed regarding that measure. The financial items may be discussed in the same order as listed. Reference each companies' actual ratio or analysis tool result. For the vertical and horizontal analyses, discuss the items you believe to be significant. c) Once all eight calculations and financial measures and the companies results have been discussed, determine which company would be a better investment and why using the results of your analysis. Your reasoning does not have to be limited to the financial information discussed in your report. You may address other financial or non-financial factors. However, you must include discussion of the eight measures. d) Format of your report: Provide a cover page for your report that includes your name and the names of the companies you chose to analyze. Prepare the body of your report in Times New Roman 14 font (like this document). Use single-spacing with one-inch margins. You may use any font you wish to prepare the table within your report. When completed, your cover page and report must be in one Word file. e) References: I expect you to locate the information in each company's 10K, so "Googled" answers are not acceptable and will result in a zero grade. In the introduction to your report, indicate the URL for each 10-K you utilized f) Submit your report as an Excel document and a Word document in Black Board Company Selection Financial analysis of company performance is usually done by industry. Therefore, your selection of companies must be from the same industry. Go by the SIC not intuition! Use the most recent 10-k for your project. Examples: Retailer Department Stores - SIC 5311 Kohls Macy's Urban Outfitters American Eagle Buckle Shoe Carnival Foot Locker Target Walmart Dean Foods Lifeway Foods Food Processing - SIC 2015 Pilgrim's Pride Tyson Foods Hormel Foods Corp Beverages - SIC 2080 Pepsico Coca Cola Keurig Dr. Pepper, Inc. Sports Apparel Manufacturers - SIC 2300 Lululemon Under Amour Nike, Inc. Crocs, Inc. Hotels and Motels - SIC 7011 Marriott International, Inc. Wyndham Destinations, Inc. Automotive Manufacturers - SIC 3711 Tesla Ford Motor Co General Motors Co Dell Electronic Computers - SIC 3571 Fitbit IBM HP (You may not use Apple) Pharmaceutical - SIC 2834 Eli Lilly & Co Bristol Myers Squibb Co Aluminum Producers - SIC 3334 Alcoa Corp Century Aluminum Co