Students....By now you all know that a publicly held corporations must have an audit each year and publish an annual report for each fiscal year. The annual report consists of (4) parts - Financial Statements, Auditors Report, MD&A, and Notes. To familiarize yourself with an annual report - and they greatly vary in length and information - you must complete the following:

1. Choose a public company and find their most recent annual report that is publicly available (almost all companies have their annual report available on their corporate website --look for an Investor Relations link). Be sure you choose an AMERICAN based company that uses GAAP. You can find out what accounting standards they follow by reading the Auditors Report letter found in the annual report.

NOTE: As we begin our discussions, MAKE SURE you have a U.S. GAAP based company annual report. You can tell this by reviewing the Auditors Report. It states what standards the audit was based on. I will not accept a discussion if you did not obtain the financial data from the actual annual report and it is not US GAAP based. You can ask me if you have any questions about this.

2. Provide the hyperlink to your annual report. MAKE SURE you have an actual ANNUAL report from the corporate site...not statements from google, msn, or other secondary sources. Also, not a QUARTERLY report. Let me know if you have any problems with locating a current annual report. A good start is any U.S. based company listed on the New York Stock Exchange.

3. Include the name of the company and the date of the fiscal year end.

4. Locate the audited financial statements in the annual report (usually found about in the middle of the annual report). Gather the following data for the most recent year end and provide the following information -

From the Balance Sheet:

• a) Total Assets
• b) Total Liabilities
• c) Total Stockholders Equity

From the Income Statement -sometimes called the Statement of Operations:

• d) Net Income or Loss
• e) Earnings Per Share (listed at the bottom)

From the Statement of Cash Flows: (Be sure to indicate if the cash flow is positive or negative)

• f) Cash Flows from Operations ---this is the first of three sections of the Statement of Cash Flows
• g) Cash Flows from Financing Actvities

Make sure you reference "in millions" or "in thousands", when and if appropriate when providing your numbers. The statement will indicate what the dollar reference is somewhere at the top.

You DO NOT have to respond to another student post for this Discussion Assignment. Respond to this discussion with the above information by 02/15/21 - (6 points).