Select a publicly traded company and access its most recent financial statements from its annual report. Include the name of the company in your subject line, and do not choose a company about which one of your classmates has already posted. Examine the income statement for that company, and explain the presentation format in the report.

Here is an example:

iRobot Corp

I chose iRobot Corporation as the company to review for this discussion question. This is a corporation that created the Roomba Robot Vacuum and their goal is "design and build robots that empower people to do more both inside and outside the home." (iRobot, 2019) While reviewing their financial results, I found that they used a consolidated statement of income which had a few additional areas of detail provided. The beginning of the income statement looked as expected but then it also broke out net income per share, basic and diluted as well as provided the transparency of the number of shares used in these calculations. This statement for iRobot also included the stock based compensation per expense category.

The consolidated statement of income also shows multiple time periods. It shows a 3 month time period ending towards the end of September as well as the 9 month time period. Not only does it show the current time frame for these periods but also the prior period which supports FASB codification 2015-10-45-2 "In any one year it is ordinarily desirable that the statement of financial position, the income statement, and the statement of changes in equity be presented for one or more preceding years, as well as for the current year."

This company's financial statements have been one of the easier ones for me to review and the summary provided a good insight into the results.