Financial reports are the primary means by which corporations report their perfo

Question

Financial reports are the primary means by which corporations report their performance and financial condition. Financial statements are one component of the annual report mailed to their shareholders and to interested others. Many companies are using the 10-K report that they file with the SEC as a replacement for the financial portion of their annual report.

Required:

Obtain the most recent annual report (or 10-K report filed for Boston Beer Co Inc. The easiest way is to use the searchable EDGAR database (under filings on the SEC.gov  (Links to an external site.)Links to an external site.website). Put in the name (shown exactly as above) or the ticker symbol (SAM) in the box to the right. Be sure you use the most recent 10-K report filed. (Click on the blue "Interactive Data" oval to see the that year's data. (Make sure you use a 10-K NOT a 10-Q report.

After browsing the report, click on the yellow-orange header that reads, "Financial Statements" then "Consolidated Balance Sheets" to  answer the following questions:

1. Name two Current Assets and two Long-term Assets that are listed on the Balance Sheet. What is the value of the 1) Total Current Assets and 2) the Total Assets shown? (Be sure to use a dollar sign and indicate "in thousands" if necessary.)

2. Name two Current Liabilities and two Long-term Liabilities listed. What is the value of the 1) Total Current Liabilities and 2) Total Liabilities shown? (Be sure to use a dollar sign and indicate "in thousands" if necessary.)

3. What is the total value for Retained Earnings as of year end? Did Retained Earnings increase or decrease from the previous year end? By how much?

4. List TWO other items you found to be interesting when looking at Boston Beer's Financial Statements. Be specific. Explain in two or three sentences why you find each of these items to be interesting.

Consolidated Balance Sheets - USD ($)
$ in Thousands

Consolidated Balance Sheets - USD ($)
$ in Thousands

Dec. 30, 2017 Dec. 31, 2016 Current Assets: Cash and cash equivalents $ 65,637 $ 91,035 Accounts receivable 33,749 36,694 Inventories 50,651 52,499 Prepaid expenses and other current assets 10,695 8,731 Income tax receivable 7,616 4,928 Total current assets 168,348 193,887 Property, plant and equipment, net 384,280 408,411 Other assets 13,313 9,965 Goodwill 3,683 3,683 Total assets 569,624 615,946 Current Liabilities: Accounts payable 38,141 40,585 Accrued expenses and other current liabilities 63,617 60,934 Total current liabilities 101,758 101,519 Deferred income taxes 34,819 57,261 Other liabilities 9,524 10,584 Total liabilities 146,101 169,364 Commitments and Contingencies (See Note J) Stockholders' Equity: Additional paid-in capital 372,590 349,913 Accumulated other comprehensive loss, net of tax (1,288) (1,103) Retained earnings 52,105 97,648 Total stockholders' equity 423,523 446,582 Total liabilities and stockholders' equity 569,624 615,946 Common Class A Stockholders' Equity: Common Stock 86 92 Common Class B Stockholders' Equity: Common Stock $ 30 $ 32

Explanation / Answer

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Current Assets: Cash and cash equivalents Accounts receivable Long-term Assets Property, plant and equipment, net Goodwill Total Current Assets 168,348 193,887 he Total Assets 569,624 615,946 Current Liabilities Accounts payable Accrued expenses and other current liabilities Long-term Liabilities Deferred income taxes Other liabilities Current Liabilities 101,758 101,519 Total Liabilities 146,101 169,364 Retained Earnings 52,105 97,648 Has decreased TWO other items Additional paid-in capital There is increase in amount inspite of the fact that no of shares has reduced Common Stock There is decrease in no of shares inspite of the fact that Additional Paid-in Capital has increased

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