1. Income Statement use the income statement from the SEC Form 10-K for the most recent fiscal year.
   1. State your companys fiscal year end date. If it is not December 31^st, why do you believe they chose to use the date they did?
   2. State the method, single-step or multiple-step, used in the statement. If it is a hybrid, explain.
   3. Calculate the gross profit ratio for each of the years reported. Briefly evaluate the trend of these results.
   4. Explain whether operating income is increasing or decreasing for the years reporte Explain the difference between operating income and net income. (not in terms of dollars but in terms of meaning)
   5. Describe the primary source of revenue for this company. What might that say about the ability of this company to do well in the future?
   6. Explain what basic earnings per share is. Show the approximate computations that the company used to compute this amount.
   7. In the footnotes, what does the company say about its policy for revenue recognition? Use your words. Dont cut and paste.
   8. In the footnotes, what does the company say about depreciation expense? What method(s) of depreciation does the company use? What estimates does the company make to compute this expense?
   9. Convert the income statement to a common sized income statement (in other words, restate everything as a percentage of total revenues. You will need to export the income statement to Excel for this). Based upon the common size income statement, is there anything surprising to you?

NVIDIA CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) Year Ended January 26, January 27, January 28, 2020 2019 2018 $ 2,796 $ 4,141 $ 3,047 Net income Other comprehensive income (loss), net of tax Available-for-sale debt securities: Net unrealized gain (loss) 8 10 (5) 1 (4) (1) Reclassification adjustments for net realized gain included in net income Net change in unrealized gain (loss) 8 11 Cash flow hedges: Net unrealized gain (loss) 10 6 Reclassification adjustments for net realized gain (loss) included in net income (5) (11) Net change in unrealized gain (loss) 5 (5) Other comprehensive income (loss), net of tax 13 6 Total comprehensive income $ 2,809 $ 4,147 $ See accompanying notes to the consolidated financial statements. 3 2 (2) 3,045 40 NVIDIA CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) Year Ended January 26, January 27, January 28, 2020 2019 2018 $ 2,796 $ 4,141 $ 3,047 Net income Other comprehensive income (loss), net of tax Available-for-sale debt securities: Net unrealized gain (loss) 8 10 (5) 1 (4) (1) Reclassification adjustments for net realized gain included in net income Net change in unrealized gain (loss) 8 11 Cash flow hedges: Net unrealized gain (loss) 10 6 Reclassification adjustments for net realized gain (loss) included in net income (5) (11) Net change in unrealized gain (loss) 5 (5) Other comprehensive income (loss), net of tax 13 6 Total comprehensive income $ 2,809 $ 4,147 $ See accompanying notes to the consolidated financial statements. 3 2 (2) 3,045 40