Question: Internet Problem Choose a publicly held corporation (unless your teacher assigns a particular corporation for this assignment) and find the balance sheet and notes to the financial statements in the most recent Form 10-K. The Form 10-K can be located by going to the home page of the Securities and Exchange Commission and locating the SEC EDGAR Database. The address for the home page is www.sec.gov
I. Using the information you find, answer the following questions:
(a) What current assets are included on the balance sheet?
(b) If the company lists accounts receivable and an allowance account, analyze these accounts.
(c) What method does the company use to value inventory?
(d) What depreciation method does the company use?
(e) What assets other than current assets and property, plant, and equipment are included on the balance sheet?
(f) What current liabilities are included on the balance sheet?
(g) How many deferred tax accounts are included on the balance sheet? Under which classification(s) are deferred taxes found? What temporary differences caused the creation of the deferred tax account(s)?
(h) Does the company have long-term debt? How much?
(i) Does the company have commitments and contingencies? If so, what commitments does the company have and for what amount is the company committed? Explain any contingencies.
(j) What stockholders equity accounts are included on the balance sheet?