Project 1 Download the 3 years of Year-end Financial Statements including the most recent Year End Financial Statements for Starbucks Corporation from SEC.gov (10 K s) Complete the following analytics: Common size the Income Statement and Balance Sheet for each of the 3 Year End Statements (20 pts) Calculate and/or report the following: (45 pts) Sales Growth YOY Most recent 2 years Gross Margin % - all 3 years Change in Gross Margin % -Most recent 2 years Profit Margin % - all 3 years Profit Margin Change YOY - Most recent 2 years Identify the drivers for the change in Profitability - all 3 years Asset Turnover- all 3 years Current Ratio all 3 years Quick Ratio all 3 years Cashflow from Operations for each year all 3 years Cashflow from Financing for each year all 3 years Cashflow from Investing for each year all 3 years Cashflow Analysis o Provide a one paragraph discussion on the CHANGES in the sources of cashflow year over year (6 pts of 45 pts) Liabilities to Equity all 3 years Debt to Equity Ratio (do not include 2020 Operating Lease Liability in 2020 for comparison purposes) all 3 years Calculate: (20 pts) Return on Assets Most recent 2 years Return on Equity Most recent 2 years Accounts Receivable Turnover - Most recent 2 years Accounts Receivable as percent of sales Most recent 2 years Days Sales outstanding Most recent 2 years Days Inventory outstanding-Most recent 2 years Days Payable Outstanding Most recent 2 years Cash Conversion Cycle Most recent 2 years Identify in a paragraph the driver of any changes in the in Cash Conversion Cycle from Prior Year to Current year (4 pts of the 20 pts) PPE Turnover - Most recent 2 years PPE Useful Life - Most recent 2 years PPE % used up All 3 years Format You must UPLOAD YOUR EXCEL SPREAD SHEETS: Tab for Common Size Income Statements 3 Full Years Tab for Common Size Balance Sheet 3 Full Years Tab for Ratio Calculations on Full Year Statements (You MUST show the numbers for the calculation you can NOT just link cells no math/no points).

Write a two page or less narrative discussing the changes represented by your analysis of the financial statements (15 pts) Be sure to address the drivers of the changes in: Profitability Cashflow Return on Assets Return on Equity Any other key metrics