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Financial Statement Problem -
Amazom financial statement
1. Compute trend analyses for net sales and net income. Use 2007 as the base year. What is the most notable aspect of this data? Explain your answer and how you arrived at your conclusion, step by step.
2. Compute inventory turnover for 2009 and 2008. The inventory balance at December 31, 2009 was $2,171 million. Do the trend of net income from 2008 to 2009 and the change in the rate of inventory turnover tell the same story or a different story? Explain your answer and how you arrived at your conclusion in detail, step by step.
Amazon, Inc. Consolidated Statements of Operations (in millions, except per share data)
Yr. ended Dec.31,
2009
2008
2007
Net sales
$24,509
$19,166
$14,835
Cost of Sales
18,978
14,896
11,482
Gross profit
5,531
4,270
3,353
Operating expenses (1):
Fulfillment
2,052
1,658
1,292
Marketing
680
482
344
Technology and content
1,240
1,033
818
General and administrative
328
279
235
Other operating expense (income), net
102
-24
9
Total operating expenses
4,402
3,428
2,698
Income from operations
1,129
842
655
Interest income
37
83
90
Interest expense
-34
-71
-77
Other income (expense), net
29
47
-8
Total non-operating income (expense)
32
59
5
Income before income taxes
1,161
901
660
Provision for income taxes
-253
-247
-184
Equity-method investment activity, net of tax
-6
-9
Net income
$902
$645
$476
Amazon Inc. Consolidated Balance Sheet (in millions, except per share data)
December 31,
Assets
Current assets
Cash and cash equivalents
$3,444
$2,769
Marketable securities
2,922
958
Inventories
2,171
1,399
Accounts receivable, net and other
988
827
Deferred tax assets
272
204
Total current assets
9,797
6,157
Fixed assets, net
1,290
854
18
145
Goodwill
1,234
438
Other assets
1,474
720
Total assets
13,813
8,314
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