This week we are studying liabilities and how we account for them. Pick a large NYSE or Nasdaq company that you know something about or do business with. (Do not use Amazon). Go to their website, under Investor Relations find their latest annual report.

• Describe the items they have listed in the Balance Sheet as liabilities.
• Distinguish between how short-term and long-term debt obligations are reported in a company's financial statements and give the dollar totals of each.
• Search the Notes to the financial statements to determine what they discuss about their liabilities. What additional details do they give that are not in the financial statements?
• Where else might you find information about the company debt in the annual report and what would it tell you?
• From what you learned so far about their liabilities, how do you evaluate the company?

Cite sources.