Verizon Communications, Inc., is one of the world's largest providers of communication services. The following information, taken from the company's annual reports, is available for the years 2010, 2009, and 2008:
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Required:
a. Divide the class into groups of four or five students. Organize the groups into three sections. Assign each section of groups the financial data for one of the preceding accounting periods.
Group Tasks:
(1) Determine the amount of net income for the year assigned.
(2) How does the result in item 1 above affect the retained earnings of the company?
(3) Compute the percentage growth rate for each year.