Topic: Utilities - Please provide factual analysis.

Please access the annual report (or Form 10-K filed with the SEC) for one publicly traded company in the industry you were assigned above. In addition to the company's own website, a great source is the SEC's Electronic Data Gathering, Analysis, and Retrieval (EDGAR) service. This free source is available by going to the "Filings" section of SEC(Links to an external site.) (Links to an external site.) and clicking on "Company Filings Search," and then entering the "Company name." Then, look for the "10-K" reports needed.

Be sure that you are using the most recent "10-K" report, which is an annual report. Do not use the "10-Q" report because this is a quarterly report.

Answer all of the following questions about your company based on the Income Statement:

1. Calculate the percentage change from your selected company's sales and its "earnings from continuing operations" from 2020 to 2021.
2. Which increased more, operating earnings or sales? Why? What role did fixed and variable costs play?
3. Find the operating expenses for 2020. If this cost is thought of in the context of the number of units of products or services sold, should it be considered primarily fixed or variable in nature? Why?

Link: https://www.sec.gov