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Walgreens Income Statement
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Period Ending
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Aug 31, 2013
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Aug 31, 2012
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Total Revenue
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72,217,000
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71,633,000
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Cost of Revenue
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51,098,000
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51,291,000
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Gross Profit
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21,119,000
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20,342,000
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Operating Expenses
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Research Development
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-
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-
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Selling General and Administrative
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17,543,000
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16,878,000
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Operating Income or Loss
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3,940,000
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3,464,000
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Income from Continuing Operations
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Total Other Income/Expenses Net
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140,000
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-
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Earnings Before Interest And Taxes
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4,060,000
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3,464,000
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Interest Expense
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165,000
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88,000
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Income Before Tax
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3,895,000
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3,376,000
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Income Tax Expense
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1,445,000
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1,249,000
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Net Income From Continuing Ops
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2,794,000
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2,127,000
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Net Income
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2,450,000
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2,127,000
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WALGREENS BALANCE SHEET FOR 2012 AND 2013
Period Ending
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Aug 31, 2013
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Aug 31, 2012
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Assets
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Current Assets
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Cash And Cash Equivalents
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2,106,000
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1,297,000
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Short Term Investments
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-
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-
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Net Receivables
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2,632,000
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2,167,000
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Inventory
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6,852,000
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7,036,000
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Other Current Assets
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284,000
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260,000
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Total Current Assets
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11,874,000
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10,760,000
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Long Term Investments
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7,100,000
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7,006,000
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Property Plant and Equipment
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12,138,000
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12,038,000
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Goodwill
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2,410,000
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2,161,000
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Intangible Assets
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-
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-
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Accumulated Amortization
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-
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-
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Other Assets
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1,959,000
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1,497,000
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Deferred Long Term Asset Charges
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-
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-
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Total Assets
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35,481,000
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33,462,000
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Liabilities
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Current Liabilities
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Accounts Payable
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8,313,000
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7,403,000
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Short/Current Long Term Debt
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570,000
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1,319,000
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Total Current Liabilities
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8,883,000
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8,722,000
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Long Term Debt
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4,477,000
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4,073,000
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Other Liabilities
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2,067,000
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1,886,000
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Deferred Long Term Liability Charges
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600,000
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545,000
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Total Liabilities
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16,027,000
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15,226,000
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Stockholders' Equity
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Common Stock
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80,000
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80,000
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Retained Earnings
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21,523,000
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20,156,000
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Treasury Stock
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(3,114,000)
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(2,985,000)
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Capital Surplus
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1,074,000
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936,000
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Other Stockholder Equity
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(109,000)
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49,000
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Total Stockholder Equity
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19,454,000
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18,236,000
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INSTRUCTIONS:
Using the Income Statement and Balance Sheet, please perform the following instructions.
1. Complete a Horizontal Analysis of the 2013 Income Statement
2. Complete a Vertical Analysis of the 2013 and 2012 Income Statement using Total Revenue as the base amount.
3. Indicate any unusual trends identified using Horizontal or Vertical Analysis.
4. Using the Balance Sheet of 2012 and 2013, compute the following ratios FOR 2012 AND 2013:
i. Current Ratio
ii. Inventory Turnover. Only Compute for 2013
iii. Gross Profit Percentage.
iv. AR Turnover. Only Compute for 2013. Please assume all revenue was sold on credit.
v. Debit-to-Equity Ratio
vi. Earnings Per Share (EPS). Please note Weighted Average Number of Shares Outstanding for 2013 was: 946,595,578 and for 2012 was 944,055,334
5. Identify any ratio changes from 2012 to 2013.