Examining Financial Statements Paper:
Using the financial statements of Landry's Restaurants located in Appendix of the text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby, prepare a 1,050 to 1,400-word paper that addresses the following questions:
Landry's has grown significantly in recent years, with its balance sheets in Exhibit showing a 35 percent increase in total assets from $690 million in 2001 to $933 million in 2002 [35% _ ($933 _ 690) _ $690 _ 100%]. In 2003, total assets increased again, from $933 million in 2002 to $1.1 billion in 2003. Most of this growth appears in the Property and Equipment category. The financial highlights section of Landry's annual report explains the cause of this growth. The company added 95 new restaurants during 2002 and 2003, bringing the number of restaurants to 286 at December 31, 2003. The liabilities and stockholders' equity section of the balance sheets in exhibit suggest that the growth
Q1. What is the amount of net income? Which financial statement did you find this information? What are the components of this financial statement?
Q2. What are the total assets? Which financial statement did you find this information? What are the components of this financial statement?
Q3. How much did they spend on property and equipment additions? Which financial statement did you find this information? What are the components of this financial statement?
Q4. Were any stock options exercised? Which financial statement did you find this information? What are the components of this financial statement?
Q5. Which financial statement do you feel is the most important? Why?
Properly cite your references. If you used an electronic source, include the URL. If you used a printed source please attach a copy of the data to your paper.