Please see attached. Note company for which solutions are to be determined.

Subject: Boston Beer Company Financial Analysis Overview: From the latest annual report (or 10-K) and proxy statement answer the questions below. Many firms now have files from their websites or you can always download them from the SEC site at http://www.sec.gov. If you go to the SEC website use EDGAR. Read that and get the basics and you can then locate the various financial documents that the firm files with the SEC - for example, the company's proxy statement will typically be listed as form DEF 14A. DO NOT ATTEMPT TO USE THE ABBREVIATED STATEMENTS AVAILABLE ON SOURCES LIKE YAHOO. These sources create a generic format and mean that valuable firm specific information is often lost. Go to http://www.yahoo.com and then to finance. Enter the firm and find the information such as the firm beta value, stock chart, price-to-earnings ratio, etc. You can use this site for some other financial information (but it is not a source for the firm's financial statements! See note above.). Subject: Boston Beer Company Financial Analysis Review Questions: 1. Examine Boston Beer Company's working capital management. a. Calculate the Inventory conversion period, Receivables collection period, and Payables deferral period. b. Calculate the cash conversion cycle (Use formula below) Cash Conversion Cycle = Inventory Conversion period + Average Collection Period -Payables deferral period c. Calculate Net Operating Working Capital (Use formula below) NOWC = operating current assets - operating current liabilities d. Would you describe Boston Beer Company working capital policy as relaxed, moderate or restricted? Comment on any needed areas of improvement in working capital management (or note any specific areas of strength). e. What is Boston Beer company cash balance as a percentage of total assets? f. e. Discuss Boston Beer company level of cash. Is it appropriate given the industry in which your firm operates