I attached the ten-year balance sheet, income statement, and statement of cash flow, and hopefully, someone can help me with the analysis. Thank you so much.
7. Calculate Walgreens (WBA)'s inventory turnover ratios for the ten year period ending this year, using: (1) LIFO data (ii) FIFO data (iii) Current cost data. Discuss the differences among these three turnover ratios and select the method that provides the best measure of economic turnover. Discuss the trend in Walgreens (WBA)'s inventory turnover over the ten year period. Discuss factors that might account for the variability of reported turnover. STATEMENT OF FINANCIAL POSITION Fiscal Year: 2010 2011 2013 2014 2015 2016 2017 2018 2019 2012 2020 (NA (31AUG2010) (31AUG2011) (31AUG2012) (31AUG2013) (31AUG2014) (31AUG2015) (31AUG2016) (31AUG2017) (31AUG2018) (31AUG2019)) (FYR Ending): ASSETS Cash & Equivalents Receivables - Total (Net) Inventories - Total Prepaid Expenses Current Assets - Other 1,880.000 2.450.000 7,378.000 .000 1,556.000 2,497.000 8,044.000 .000 1,297.000 2,167.000 7,036.000 .000 260.000 2,106.000 2,632.000 6,832.000 .000 284.000 2,646.000 3,218.000 6,076.000 .000 302.000 3,220.000 6,849.000 8,678.000 .000 910.000 10,024.000 6,260.000 8,956.000 3,504.000 6,528.000 8,899.000 976.000 6,573.000 9,565.000 .000 1,212.000 7.226.000 9,333.000 .000 .000 .000 214.000 225.000 643.000 822.000 732.000 929.000 Current Assets - Total 11,922.000 12.322.000 10,760.000 11,874.000 12,242.000 19,657.000 25,883.000 19,753.000 17,846.000 18,700.000 Plant, Property & Equip (Gross) Accumulated Depreciation 22.608.000 24.789.000 15,019.000 3,835.000 15,834.000 4,308.000 17.160.000 5,122.000 18,181.000 6,043.000 19,096.000 6,839.000 22,935.000 8,600.000 22,960.000 9,318.000 24.424.000 10,513.000 7,540.000 11,311.000 Plant, Property & Equip (Net) 11,184.000 11,526.000 12.038.000 12,138.000 12,257.000 15.068.000 14,335.000 13,642.000 13,911.000 13.478.000 .000 .000 6,147.000 6,268.000 7,322.000 1,242.000 6,174.000 6.320.000 6,610.000 6,851.000 .000 .000 887.000 .000 Investments at Equity Investments and Advances - Other Intangibles Deferred Charges Assets - Other .000 3,001.000 .000 .000 3,229.000 .000 1,147.000 28,723.000 3,447.000 .000 1,070.000 3,717.000 .000 1,484.000 3,539.000 .000 .000 25,829.000 .000 000 25,788.000 .000 506.000 .000 28,697.000 .000 1,060.000 27,436.000 .000 .000 168.000 377.000 935.000 2.945.000 467.000 1,133.000 TOTAL ASSETS 26,275.000 27,454.000 33,462.000 35,481.000 37,182.000 68.782.000 72,688.000 66.009.000 68,124.000 67,598.000 4,585.000 4,810.000 14,341.000 4,635.000 18.000 11.000.000 260.000 13,566.000 1,717.000 5.000 4.488.000 5.000 1,397.000 LIABILITIES Accounts Payable Notes Payable Accrued Expenses Taxes Payable Debt (Long-Term) Due In One Year Other Current Liabilities 4.384.000 5.000 1,392.000 .000 4.315.000 16.000 1,759.000 105.000 10,088.000 1,066.000 1,357.000 176.000 12,494.000 251.000 1.228.000 329.000 1,598.000 185.000 1,587.000 101.000 1,398.000 206.000 73.000 273.000 216.000 13.000 774.000 .000 249.000 12.000 1,361.000 1,323.000 1,618.000 558.000 1.984.000 2.000 3,868.000 63.000 4,086.000 1.250.000 5,474.000 1,472.000 1.926.000 4.245.000 5,862.000 Total Current Liabilities 7,433.000 8,083.000 8,722.000 8.883.000 8,895.000 16,557.000 17,013.000 18,547.000 21,667.000 25,769.000 2,476.000 2,504.000 4,198.000 4,662.000 4.212.000 13,315.000 18,705.000 12,684.000 12,431.000 11,098.000 Long Term Debt Deferred Taxes (Balance Sheet) 318.000 343.000 545.000 600.000 1,048.000 2.644.000 3,538.000 .000 2,281.000 .000 1.815.000 .000 1,785.000 .000 Investment Tax Credit .000 .000 .000 .000 .000 .000 2,466.000 1.648.000 1,677.000 1,761.000 1,882.000 4,072.000 4,045.000 4,223.000 5,522.000 4.794.000 Liabilities - Other Noncontrolling Interest - Redeemable .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 TOTAL LIABILITIES 11.875.000 12.607.000 15.226.000 16,027.000 16,621.000 37,482.000 42,407.000 37,735.000 41.435.000 43,446.000 SHAREHOLDERS EQUITY Preferred Stock .000 .000 .000 .000 .000 .000 .000 .000 .000 80.000 80.000 80.000 80.000 .000 80.000 1,074.000 12.000 12.000 Common Stock Capital Surplus 12.000 12.000 9,953.000 12.000 10,493.000 684.000 834.000 936.000 1,172.000 10.111.000 10,339.000 10,639.000 24.691.000 16,737.000 3,101.000 14.400.000 18,859.000 4.926.000 Retained Earnings (Net Other) Less: Treasury Stock Shareholders Equity - Parent Noncontrolling Interest - Nonredeemable 20,205.000 2.985.000 21,414.000 3,114.000 19,454.000 22,402.000 3.197.000 20,457.000 24,873.000 3,977.000 30,861.000 4,934.000 29.880.000 27,086.000 9.971.000 27,466.000 30,549.000 15,047.000 26,007.000 31,918.000 19.057.000 23,512.000 14.847.000 18,236.000 104.000 439.000 401.000 808.000 682.000 640.000 TOTAL SHAREHOLDERS EQUITY 14,400.000 14.847.000 18,236.000 19,454.000 20,561.000 31,300.000 30,281.000 28,274.000 26,689.000 24.152.000 TOTAL LIABILITIES AND EQUITY 26,275.000 27,454.000 33,462.000 35,481.000 37.182.000 68.782.000 72.688.000 66,009.000 68,124.000 67,598.000 INCOME STATEMENT Fiscal Year: 2010 (FYR Ending) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (N/A (31AUG2011) (31AUG2012) (31AUG2013) (31AUG2014) (31AUG2015) (31AUG2016) (31AUG2017) (31AUG2018) (31AUG2019) ) 72,184.000 71,633.000 72.217.000 76,392.000 103,444.000 117,351.000 118,214.000 131,537.000 136,866.000 50,603.000 50.125.000 49,815.000 53,495.000 74.778.000 85,759.000 87,309.000 98,932.000 104,644.000 (31AUG2010) 67,420.000 47,374.000 Sales (Net) Cost of Goods Sold 20.046.000 21.581.000 21,508.000 22,402.000 22.897.000 28.666.000 31.592.000 30.905.000 32.605.000 32.222.000 Gross Profit Selling, General, & Admin Expenses 15,381.000 16,450.000 16,809.000 17.339.000 17,898.000 21,874.000 23,337.000 22,520.000 24,029.000 24.466.000 4,665.000 5,131.000 4,699.000 5,063.000 4.999.000 6,792.000 8,255.000 8,385.000 8,576.000 Operating Income Before Depreciation Depreciation, Depletion, & Amortiz 7,756.000 1,030.000 1,086.000 1,166.000 1,283.000 1,316.000 1,742.000 1,718.000 1,654.000 1.770.000 2.038.000 6,806.000 3,635.000 97.000 4.045.000 81.000 3,533.000 76.000 3,780.000 172.000 3,683.000 162.000 5,050.000 506.000 6,537.000 596.000 6,731.000 693.000 5,718.000 704.000 616.000 Operating Income After Depreciation Interest Expense Non-Operating Income Expense Special Items 12.000 1,008.000 -180.000 278.000 420.000 10.000 320.000 9.000 -90.000 471.000 -184.000 1,024.000 -233.000 132.000 -1,309.000 -177.000 -972.000 -573.000 -439.000 -884.000 3,895.000 3,373.000 1,282.000 4,294.000 1,580.000 3,376.000 1,249.000 3,557.000 1,526.000 99.000 4,861.000 760.000 6,029.000 998.000 1,445.000 23.000 5.188.000 997.000 18.000 4.173.000 Pretax Income Income Taxes - Total Minority Interest Income Before EI&DO Extraordinary Items Discontinued Operations 7.000 5,335.000 1,056.000 59.000 4.220.000 .000 .000 4,550.000 588.000 -20.000 3,982.000 .000 .000 2,450.000 1,932.000 2,091.000 .000 2,714.000 .000 2.127.000 .000 4,078.000 .000 5.024.000 .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 Net Income (Loss) Income Before EI&DO 2,091.000 2,091.000 .000 2,714.000 2,714.000 .000 2.127.000 2,127.000 2,450.000 2,450.000 .000 1,932.000 1,932.000 4.220.000 4,220.000 .000 4,173.000 4,173.000 .000 4,078.000 4.078.000 5.024.000 5,024.000 .000 3,982.000 3.982.000 .000 Preferred Dividends .000 .000 .000 2,091.000 2,714.000 2,127.000 2,450.000 1,932.000 4,220.000 4.173.000 4.078.000 5.024.000 3,982.000 Available for Common Before EI&DO Common Stock Equivalents - Savings .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 Adjusted Available for Common 2,091.000 2,714.000 2,127.000 2,450.000 1,932.000 4.220.000 4.173.000 4.078.000 5,024.000 3,982.000 2.130 2.970 2.430 2.590 2.030 4.050 3.850 3.800 5.070 4.320 EARNINGS PER SHARE EPS - Primary, Excluding EI&DO EPS - Primary, Including EI&DO EPS - Fully Diluted, Excluding EI&DO 2.130 2.970 2.430 2.590 2.030 4.050 3.850 3.800 5.070 4.320 2.120 2.940 2.420 2.560 2.000 4.000 3.820 3.780 5.050 4.310 981.700 915.100 874.700 946.000 953.100 1,043.200 1,083.100 1,073.500 991.000 921.500 COMMON SHARES Common Shares for Primary EPS Calculation Common Shares for Fully Diluted EPS Calc. Common Shares Outstanding et Fiscal Yr End 987.900 924.500 880.100 955.200 965.200 1.053.900 1,091.100 1,078.500 995.000 923.500 938.605 889.294 944.055 946.596 950.387 1.089.910 1,082.987 1,023.849 952.133 895.388 STATEMENT OF RETAINED EARNINGS Fiscal Year: (FYR Ending): Retained Rearnings - Beginning Balance Vet Income 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (N/A (31AUG2010) (31AUG2011) (31AUG2012) (31AUG2013) (31AUG2014) (31AUG2015) (31AUG2016) (31AUG2017) (31AUG2018) (31AUG2019)) 15,224.000 16,737.000 18,859.000 20,205.000 21.414.000 22,402.000 24,873.000 24,691.000 27,086.000 30,549.000 2,091.000 2,714.000 2,127.000 2,450.000 1.932.000 4,220.000 4.173.000 4,078.000 5,024.000 3,982.000 541.000 647.000 787.000 1.040.000 1.199.000 1,384.000 1,563.000 1,723.000 1,739.000 1,643.000 Lash Dividends 16,774.000 18,804.000 20,199.000 21,615.000 22.147.000 25,238.000 27,483.000 27.046.000 30.371.000 32.888.000 Retained Earnings After Dividends Change - Foreign Currency Translation Adj. to Long-Term Marketable Securities .000 .000 .000 1.000 107.000 259.000 2.000 .000 .000 .000 -111.000 -18.000 49.000 -7.000 -117.000 -13.000 -251.000 -174.000 74.000 -14.000 Other CMP Adj,(Stock Splits/Retirement) Non-Compustat Adjustments Plug Calculation) 74.000 73.000 -43.000 -194.000 372.000 -352.000 -2,541.000 214.000 104.000 -956.000 16,737.000 18.859.000 20.205.000 21,414.000 22,402.000 24,873.000 24,691.000 27,086.000 30,549.000 31,918.000 Retained Earnings - Ending Balance Retroactive Adjustments (Acct's Ches) .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 Retained Earnings - After Adjustments 16,737.000 18,859.000 20,205.000 21,414.000 22,402.000 24,873.000 24,691.000 27.086.000 30,549.000 31,918.000 STATEMENT OF CASH FLOWS Fiscal Year: 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (NA (31AUG2011) (31AUG2012) (31AUG2013) (31AUG2014) (31AUG2015) (31AUG2016) (31AUG2017) (31AUG2018) (31AUG2019) (31AUG2010) 4,101.000 2,091.000 1,030.000 2,714.000 1,086.000 2.127.000 1,166.000 2,450.000 1.283.000 2,031.000 1,316.000 4,279.000 1,742.000 4,191.000 1,718.000 5,031.000 1,770.000 3,962.000 2,038.000 1,654.000 (FYR Ending) INDIRECT OPERATING ACTIVITIES Income Before Extraordinary Items Depreciation and Amortizations Extraordinary Items and Disc. Operations Deferred Taxes Equity in Net Loss (Earnings) Sale of PPE and Investments Loss (Gain) Funds from Operations - Other .000 .000 .000 .000 .000 148.000 .000 177.000 .000 -32.000 .000 -442.000 .000 -322.000 132.000 265.000 63.000 .000 .000 -434.000 -143.000 100.000 -187.000 .000 -344.000 -617.000 -315.000 -81.000 -581.000 .000 -434.000 .000 .000 .000 .000 .000 .000 .000 776.000 .000 779.000 144.000 188.000 142.000 97.000 -505.000 455.000 426.000 421.000 -153.000 124.000 -307.000 -243.000 -592.000 394.000 1,083.000 -449.000 321.000 -616.000 860.000 -338.000 719.000 115.000 -644.000 -391.000 331.000 -789.000 141.000 98.000 Receivables - Decrease (Increase) Inventory - Decrease (Increase) Accounts/P and Accrued Liabs- Inc(Dec) Income Taxes - Accrued - Increase(Decrease) Other Assets and Liabilities - Net Change 1,690.000 10.000 102.000 -228.000 103.000 17.000 -335.000 202.000 44.000 694.000 -406.000 589.000 690.000 -518.000 692.000 -51.000 449.000 2,009.000 -61.000 1,307.000 314.000 Operating Actities - Net Cash Flow 3,744.000 3,643.000 4,431.000 4,301.000 3,893.000 5,664.000 7.847.000 7,251.000 8.265.000 5,594.000 INVESTING ACTIVITIES Investments - Increase Sale of Investments .000 .000 4,025.000 .000 .000 .000 224.000 .000 493.000 .000 2,360.000 .000 .000 .000 .000 .000 .000 .000 .000 .000 500.000 -50.000 -1.000 1.000 .000 .000 1.213.000 .000 1.550.000 .000 1.367.000 .000 1.702.000 1,014.000 1.212.000 1,106.000 1.251.000 1.325.000 1,351.000 Short term Investments - Change Capital Expenditures Sale of Property Plant and Equipment Acquisitions Investing Activities - Other 867.000 60.000 444.000 3.000 4,832.000 126.000 88.000 741.000 4.793.000 659.000 -760.000 312.000 -312.000 -285.000 -510.000 -131.000 939.000 234.000 152.000 133.000 Investing Activites - Net Cash Flow -1,274.000 -1,525.000 -5,860.000 -1,996.000 -1,731.000 -4,276.000 -3,517.000 -843.000 -5,501.000 -2,307.000 233.000 235.000 165.000 486.000 612.000 503.000 235.000 217.000 174.000 174.000 1.756.000 2.028.000 FINANCING ACTIVITIES Sale of Common and Preferred Stock Purchase of Common and Preferred Stock Cash Dividends Long Term Debt - Issuance Long Term Debt - Reduction Current Debt - Changes Financing Activities - Other 705.000 1,199.000 1,191.000 787.000 3.000.000 1,226.000 1,384.000 541.000 647.000 615.000 1,040.000 4.000.000 4,300.000 1,152.000 1,563.000 5,991.000 791.000 5.220.000 1,723.000 .000 5.228.000 1,739.000 5,900.000 4,890.000 .000 .000 268.000 550.000 12,285.000 10,472.000 4,160.000 1,643.000 12,433.000 10,461.000 536.000 576.000 17.000 .000 6,196.000 33.000 -226.000 29.000 586.000 -37.000 15.000 -17.000 -27.000 -48.000 -395.000 -143.000 -45.000 -98.000 75.000 Financing Activities - Net Cash Flow -2,677.000 -2,442.000 1,170.000 -1,496.000 -1.622.000 -915.000 2,606.000 -12.934.000 -5,295.000 -3,046.000 Exchange Rate Effect .000 .000 .000 .000 .000 -119.000 -129.000 20.000 15.000 -9.000 Cash and Cash Equivalents - Change -207.000 -324.000 324.000 259.000 -259.000 809.000 540.000 354.000 6,807.000 -6,506.000 -2,516.000 232.000 OTHER INFORMATION Interest Paid - Net
