Calculation of percentage of total assetsreading and

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Reference no: EM13356194

Calculation of percentage of Total Assets.

Reading and Interpreting a Balance Sheet

A recent balance sheet for Walt Disney Company is provided below.

Walt Disney Company Consolidated Balance Sheet
(In millions, except per share data)
Sep-30	2004	2003
Assets
Current Assets	$2,042	$1,583
Cash and cash equivalents	4,558	4,238
Receivables	775	703
Inventories	484	568
Television costs(current)	1,510	1,222
Other assets	9,369	8,314
Film and television costs	5,938	6,205
Investments	1,292	1,849
Parks, resorts and other property, at cost
Attractions, buildings and equipment	28,147	21,472
Accumulated deprecation	(11665)	(8794)
	16,482	12,678
Intangible assets ,net	19,781	19,752
Other assets	1,040	1,190
Total assets	$53,902	$49,988
Liabilities and Stock holders' Equity
Current Liabilities
Accounts payable and other accured liabilities	$5,623	$5,044
Current portion of borrowings	4,093	2,457
Unearned royalties and other advances	1,343	1,168
Total current liabilities	11,059	8,669
Borrowings	9,395	10,643
Other noncurrent liabilities Minority	6,569	6,457
Minority interests	798	428
Stockholders' Equity
Common Stock	12,447	12,154
Retained earnings	15,732	13,817
Adjustments	(2,098)	(2,180)
Total stockholders' equity	26,081	23,791
Total Liabilities and stockholders' equity	$53,902	$49,988

a. Do you agree that Walt Disney's balance sheet is both classified and comparative? Explain why or why not?
b. At year-end 2004, what percentage of total assets was composed of current assets? Had this percentage increased or decreased since year-end 2003?
c. What was Disney's amount of working capital at year-end 2004? Did it change significantly?
d. Compute the working capital ratio at year-end 2004 and year-end 2003. Did it improve or deteriorate between 2003 and 2004?
e. Film and television costs are the amount paid to produce movies or television shows. Explain why it appears in two places on the balance sheet.
f. What were the amounts of total assets, total liabilities, and stockholder's equity at year-end 2004 and year-end 2003?
g. Did Disney's overall financial position improve between 2003 and 2004? Explain.

Reference no: EM13356194

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