Reference no: EM132669914
Question - The December 31, 2019, form 10-K for Pfizer, Inc. and for Merck and Co., Inc., are provided on myCourses under Content/Corporate Annual Reports. Use the audited financial statements and footnotes from them to answer the following questions.
a) What were the current ratios for 12/31/19 and 12/31/18 for each of the two companies? Compare the two companies' liquidity for each of the two year-end dates. Comment on which you see as more liquid.
b) Set up a table showing each company's total operating cash flows for each of the past three years, then comment on each company's trend in operating cash flows over the past three years; are these flows increasing, decreasing, both, neither? What do you see as the main sources of operating cash flow (how do they get it?) and main uses (what do they spend it on)?
c) Compare the major sources and uses of cash under investing activities, and under financing activities, for each of the companies. Provide amounts.
d) Overall, which company do you believe has a stronger cash and cash flow position, and why?
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