Auditing and Assurance Services 1st Edition by Iris Stuart

Exercise 22

Select a company and find its annual report for the current year. Answer the following questions about the company's long-term debt and owners' equity. Print out the balance sheet and footnotes you used to answer the questions.
a. What type of debt does the company have
b. Did the company issue any new long-term debt this year
c. Has the company used debt to generate cash or used it to pay off debt during the year
d. Did the company issue stock
e. Did the company issue stock options
f. Does the company have treasury stock If so, how much How is it reported in the Owners' Equity section of the balance sheet
g. Did the company pay dividends this year If so, how much
h. What have the retained earnings been over the life of the company
i. What is the company's debt-to-equity ratio What information does this ratio give you about the way the company generates cash