Obtain, examine and analyze the annual report and audited financial statements for " Emera Incorporated" for the year ended in 2019.

Use one of the following direct links for Emera Incorporated website and resources:

company website: "www.emeracom"; or

company website all financial reports: "https://investors.emera.com/financials/financial - reports/default.aspx#Annual", then select the "Annual" tab, and then click on the link for the "Annual Report -2019"; or

company website (direct download) annual report and audited F/S for year ended in 2019 on company website: "https://s25.q4cdn.com/978989322/files/doc_financials/2019/ar/16fd44b5 -5271-1326-c0b1-0c4d0d22af13.pdf" Reuters provides lists of industries and their makeup at www.reuters.com. This free source is available by going to the "Search Database" section of www.sedar.com and clicking on

"Search for Public Company Documents" and then filling in the required information.

Requirements:

Your answer should clearly answers each of the following questions:

1. What type of business organization is it (proprietorship, partnership, corporation)? How do you know? Explain.
2. What types of products or services does it sell? When was the company founded? Approximately how many employees work at the company?
3. What is the company's fiscal year end for these financial statements?
4. For how many comparative years does the company present complete balance sheets? Income statements? Cash flow statements? Which GAAP qualitative characteristic do you think this represents {refer to Module 2, Chapter 1: Introduction to Financial Accounting, pages 5 -8}?
5. Are its current year financial statements audited by independent CPAs? If so, by whom, and where and when was the audit report signed/dated?
6. Is the auditor's report an unqualified or a qualified audit report? How do you know? Explain briefly.
7. What are the company's total assets in the current year (2019)? Prior year (2018)? Did its total assets increase or decrease over the last year? By how much?
8. What was the company's total revenues and net income in the current year? Did the company's revenues and net income increase or decrease over the last year? By how much? {Hint: Use the company's "net income" line in the Consolidated Statement of Income as you are familiar with this concept of net income = net earnings = profit = revenue - expenses; not the company's comprehensive income as it is a more complex accounting topic.}
9. Research the accounting concepts of "working capital" and "current ratio".(a) Calculate the working capital for the current fiscal year and the previous fiscal year. (b) Calculate the current ratio for the current fiscal year and the previous fiscal year. (c)Did the working capital and current ratio improve or deteriorate when comparing the current year to the previous year? Explain
10. Are the company's total assets financed primarily by liabilities or shareholders' equity at the end of the current fiscal year end?

{Hint: Remember that A=L+SE, so which component, L or SE, is larger and financed more of the assets?}