Refer to the financial statements and the notes to the financial statements.

THE BASICS

1. How many shares of common stock have been issued? _______________________

How many shares are outstanding? ________________

If these numbers differ, explain why.

2. Does the company have any preferred stock outstanding? ______________________

If so, how many shares? _________ Par value _______ Dividend rate ___________

FURTHER ANALYSIS

1. Calculate the following ratios for each of the three years presented in the stockholders equity

statement: (You may be able to find the year-end stock price in the financial review or financial

highlights section of the annual report. If the year-end price is not available, compute the average of

the high and low prices for the fourth quarter.

Show your computations

Market Update: (Stock price this week)

Price_________on date___________

a. Dividend payout ratio = Total cash dividends paid on common stock \ Net income

Current Year__________________

Last year _________________

b. Dividend yield = Dividends paid per share / Stock price at year-end

Current Year__________________

Last year _________________

c.

Earnings per share

(provided in income statement)

Current Year__________________

Last year _________________

d. Price-earnings ratio = Market price per share of stock / Earnings per share

Current Year__________________

Last year _________________

e. Return on common stockholders equity = (Net income preferred stock dividends) / Average

common stockholders equity

Current Year__________________

Last year _________________

Consolidated Statements of Cash Flows millions Operating activities Net earnings / (loss) Eamings / (losses) from discontinued operations, net of tax Net earnings from continuing operations Adjustments to reconcile net earnings to cash provided by operations: 2014 (1,636) 085 2,449 2.737 S 3,363 S 2,669 3,321 2.129 Depreciation and amortization Share-based compensation expense Deferred income taxes Gain on sale Loss on debt extinguishment Noncash (gains)/losses and other, net Changes in operating accounts: 2,213 (322) Other assets Accounts payable and accrued liabilities 803 5,157 579 5,254 704 5,958 5,329 Cash provided by operating activities-continuing operations Cash provided byr Cash provided by operations Investing activities 107 5,436 equired for) operating activitio tinued operations 4.465 (1,438) 28 1,875 (1,786) 95 (1,547) Expenditures for property and equipment Proceeds from disposal of property and equipment Proceeds from sale of businesses Cash paid for acquisitions, net of cash assumed Other investments (20) 106 (1,605) 321 (1,926 Cash (required for)/provided by investing activities--continuing operations Cash provided by /required for) investing Cash crequired for) / provided by investing activities Financing activities scontinued operations (1,473) Change in commercial paper, net Additions to long-term debt Reductions of long-term debt Dividends paid Repurchase of stock Stock option exercises 1,993 (2,079) 1,977 (2.641) (1,348) (3,706) (85) (1,362) (3,483) 300 (5,497) (1,024) Cash required for financing activities Net (decrease)/ increase in cash and cash equivalents (1,534) 4,046 2,512 S 1,836 2,210 4,046 S 695 of period ( 2,210 Cash and cash equivalents at end of period Supplemental information 999 S 1,514 604 $ Interest paid, net of capitalized interest Income taxes paid / (refunded) 1.251 Includes cash of our discontinued operations of $25 million at February 1, 2014 accompanying Notes to Consolidated Financial Statements