The 2012 annual report of american express services, Ask an Expert

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The 2012 annual report of American Express Services reported revenue of $21,000,000,000. Total expenses for the year were $14,000,000,000. AES ended the year with total assets of $30,000,000,000, and it owed debts totaling $14,000,000,000. At year-end the business reported total assets of $23,000,000,000 and total liabilities of $14,000,000,000. Requirements:

1. Compute AES's net income for 2012.

2. Did AES's stockholders' equity increase or decrease during 2012? By how much?

3. Assume you are a creditor of AES.Would the company's 2012 performance be good or bad for you, as a creditor?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9795600

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