On Paragraph 2010 7. Below are the financial statements for a manufacturer of athletic equipment Balance Sheet (in millions) 2011 Assets: Current Cash and Equivalents $ 1,955 Short-Term Investments $ 2,583 Accounts Receivable $ 3,212 $ less: Allowance for Doubtful Accounts (74) Inventories $ 2,715 Deferred Income Taxes $ 312 Prepaid Expenses and other Current Assets $ 594 Total Current Assets $ 11,297 $ 3,079 $ 2,067 $ 2,724 $ (74) $ 2,041 S 249 $ 873 $ 10,959 Non-Current Assets Property, Plant and Equipment At Cost Less: Accumulated Depreciation Net Property, Plant and Equipment identifiable Intangible Assets Goodwill Deferred Income Taxes and other Assets Total Non-current Assets $ 4,906 $ 12,791) $ 2,115 s S 205 $ 894 $ 3,701 487 $ 4,390 $ (2,458) $ 1,932 $ 467 $ 188 $ 873 $ 3,460 Total Assets $ 14,998 $ 14,419 2011 2010 Liabilities and Shareholder's Equity Current Liabilities Current portion of Long-Term Debt Notes Payable Accounts Payable Accrued Liabilities Income Taxes Payable Total Current Liabilities $ 200 $ 187 $ 1,469 $ 1985 $ 7 $ 139 $ 1,255 $ 1.904 $ $ 3,958 $ 59 $ 3,364 Non-Current Liabilities Long-Term Debt 5 276 5 446 Deferred Income Taxes and other Liabilities Total Non-Current Liabilities $ 921 $ 855 $ 1,301 $ 1,197 Total Liabilities $ 5,155 $ 4,665 Shareholder's Equity Redeemable Preferred Stock Common Stock at Stated Value Class A convertible S 3 Class B Capital in Excess of Stated Value Retained Earnings Accumulated other comprehensive Income Total Shareholders' Equity S 3 $ 3,944 $ 5,801 $ 95 $ 9,843 $ 3,441 $ 6,095 $ 215 $ 9,754 Total Liabilities and Shareholders' Equity $ 14,998 $ 14,419 * denotes less than 5 million Income Statement (in millions) Revenues Cost of Sales Gross Margin Demandkreation Expense Operating Overhead Expense Total Selling and Administrative Expense 2011 $ 20,862 $ 11,354 $ 9,508 $ 2,448 $ 4,245 $ 6,693 2010 $ 19,014 $ 10,214 $ 8,800 $ 2,356 $ 3,970 $ 6,326 $ 2,815 $ 2,474 Income from Operations Other Expenses (Income) 4 Interest Expense, net Other income, net Total Other Expenses (Income) $ $ $ (39) (29) $ $ $ 6 (49) (43) Income before Taxes Income Taxes $ 2,844 $ $ 2,133 711 $ 2,517 $ 610 $ 1907 Net Income Required: Using your financial statement analysis expertise, tell me five things of interest and/or regarding this company. concern