ANALYZING FINANCIAL REPORTS WALL STREET PREP ACTUAL EXAM
(COMPLETE) 100+QUESTIONS AND 100% CORRECT ANSWERS
GRADED A+/ ANALYZING FINANCIAL REPORTS ACTUAL EXAM FROM
WALL STREET PREP (BRAND NEW!!)
10-Q's must be filed four times a year for publicly traded companies. -
ANSWER-False. 10-Q's must be filed only three times.
Both the 10-K and 10-Q filings are audited. -
ANSWER-False. Only 10-K filings are audited.
All publicly traded companies and private companies with revenues greater than $850m
must file 10-K's annually with the SEC. -
ANSWER-False. Private companies do not need to file 10-K's.
For large accelerated filers, 10-K's must be filed no later than 90 days after the fiscal
year-end date. -
ANSWER-False. For large accelerated filers, 10-K's must be filed no later than 60
days after the fiscal year-end date.
For accelerated filers, 10-K's must be filed no later than 90 days after the fiscal year end
date. -
ANSWER-False. For accelerated filers, 10-K's must be filed no later than 60 days after
the fiscal year-end date.
These reports cannot contain information not included in the 10-K. -
ANSWER-False. Annual reports do sometimes contain information not included in the
10-K.
Part I of the 10-K contains the Management Discussion & Analysis section, while Part II
contains the Financial statements and Footnotes. -
ANSWER-False. Part I of the 10-K contains the Management Discussion & Analysis
section, while Part II contains the Financial statements and Footnotes.
In what section of ArchCoal's 2013 10-K did the company disclose EBITDA?
Item 7. Management discussion & analysis
Item 1. Business
Item 8. Financial Statements and Supplementary Data
Item 6. Selected financial data -
ANSWER-Item 7. Management discussion & analysis
In what section of BRE's 2012 10-K did it provide a complete GAAP Net income to Non-
GAAP Core FFO reconciliation?
Item 6. Selected financial data
Item 7. Management discussion & analysis
Item 1. Business
Item 8. Financial Statements and Supplementary Data -
ANSWER-Item 7. Management discussion & analysis
,The income statement included in a company's 10-K must show 3 years of results, while
the balance sheet must show 2 years.
False
True -
ANSWER-True
How much "cash and equivalents" did PG have as of June 30, 2013? Please provide
your answer in millions without $ sign or comma separator (Ex: 2345) -
ANSWER-PG had cash and cash equivalents of $5,947m on its balance sheet as of
June 30, 2013.
What is the latest actual share count reported in the 2013 PG 10-K? Please provide
your answer without comma separator or decimal (Ex: 23456326563) -
ANSWER-According to PG's 10-K the latest actual share count is 2,738,760,542.
What was PG's net change in cash in 2013? Please provide your answer in millions
without $ sign or comma separator (Ex: 2345) -
ANSWER-PG's net change in cash in 2013 came to $1,511 million
PG reported Diluted EPS of $3.86 in accordance with GAAP. How much higher would
EPS be if PG ignored the impact of restructuring and impairment charges during the
period? Please provide your answer with 2 decimal places, but without $ sign (Ex: 0.50)
-
ANSWER-$0.10+$0.18 = $0.28, per p.34 of PG 2013 10-K (MD&A).
How many PG options were outstanding as of June 30, 2013? Please provide your
answer without comma separator or decimal (Ex: 23456326563) -
ANSWER-306,239 options were outstanding as of June 30, 2013
What is the numerator used to calculate 2013 Basic EPS for PG? Is this figure reported
on PG's Income Statement?
$11,312; Yes
$11,068; No
$11,068; Yes
$11,068; Yes -
ANSWER-$11,068; No
$11,068 is used as the numerator to calculate 2013 basic EPS, as reported in the
company's Note 7.
For PG, what was the accumulated depreciation as of Jun 30, 2013? Enter as a positive
number in millions without $ sign or comma separator (Ex: 2345) -
ANSWER-The accumulated depreciation totaled $21,346 million.
What is the useful life PG uses for machinery & equipment? Enter as a positive number
(Ex: 23) -
ANSWER-The useful life of the PG equipment is 15 years.
PG reported $8,828m in accrued & other liabilities as of June 30, 2013. What category
made up the largest component of these liabilities? Please write it exactly as it appears
in the filing. -
ANSWER-The category is Marketing and Promotion.
, For PG, what was the amount of pre-tax impairment charges related to goodwill and
indefinite-lived intangible assets recorded in 2013? Enter as a positive number in
millions without $ sign or comma separator (Ex: 2345) -
ANSWER-The amount of pre-tax goodwill impairment by PG totaled $308 million in
2013.
For PG, which reportable segment was this impairment recorded? -
ANSWER-This impairment is recorded under the Appliances segment.
Was this the first time the segment had a goodwill impairment for PG?
No
Yes -
ANSWER-No
For PG, what was the weighted average interest rate the company faced on all of its
long-term debt in 2013? Enter with 1 decimal place and with % sign (Ex: 9.9%) -
ANSWER-PG's weighted average interest rate was 3.3%, per the company's note
4.
What was the balance of all deferred tax assets for PG as of June 30, 2013? Enter as a
positive number in millions without $ sign or comma separator (Ex: 2345) -
ANSWER-The entire balance of DTA's is listed in the company's income tax footnote.
The balance on the balance sheet is only for current DTA's.
It is 4/18/2014. What are the revenues Google reported on its latest available quarterly
financials (use revenues for the latest three months)? Enter as a positive number in
millions without $ sign or comma separator (Ex: 2345) -
ANSWER-Google reported
$15,420 million in revenues -- Source filing: 4/16/14 8-k
Did Google eliminate stock-based compensation expense when calculating its Non-
GAAP EPS on its latest available quarterly financials? -
ANSWER-Yes, Reconciliation is available in the 8-K PR
Does Google provide this GAAP to non-GAAP reconciliation in its latest 10-K? -
ANSWER-No
It is 4/18/2014. What is Google's latest available actual share count (include both
classes)? Please provide your answer without comma separator or decimal (Ex:
23456326563) -
ANSWER-Answer: 280,844,569 + 55,800,053 = 336644622 - date is
March 17, 2014, per the March 28 2014 proxy.
It is 1/15/2014. What is Apple's latest available actual share count? Please provide your
answer without comma separator or decimal (Ex: 23456326563) -
ANSWER-892,553,950 - Source filing: 1/10/14 DEF 14A
It is 4/18/2014. What is Google's latest available number of exercisable stock options?
Please provide your answer without comma separator or decimal (Ex: 23456326563) -
ANSWER-3,795,911 - per the company's 2013 10-K, p. 80
(COMPLETE) 100+QUESTIONS AND 100% CORRECT ANSWERS
GRADED A+/ ANALYZING FINANCIAL REPORTS ACTUAL EXAM FROM
WALL STREET PREP (BRAND NEW!!)
10-Q's must be filed four times a year for publicly traded companies. -
ANSWER-False. 10-Q's must be filed only three times.
Both the 10-K and 10-Q filings are audited. -
ANSWER-False. Only 10-K filings are audited.
All publicly traded companies and private companies with revenues greater than $850m
must file 10-K's annually with the SEC. -
ANSWER-False. Private companies do not need to file 10-K's.
For large accelerated filers, 10-K's must be filed no later than 90 days after the fiscal
year-end date. -
ANSWER-False. For large accelerated filers, 10-K's must be filed no later than 60
days after the fiscal year-end date.
For accelerated filers, 10-K's must be filed no later than 90 days after the fiscal year end
date. -
ANSWER-False. For accelerated filers, 10-K's must be filed no later than 60 days after
the fiscal year-end date.
These reports cannot contain information not included in the 10-K. -
ANSWER-False. Annual reports do sometimes contain information not included in the
10-K.
Part I of the 10-K contains the Management Discussion & Analysis section, while Part II
contains the Financial statements and Footnotes. -
ANSWER-False. Part I of the 10-K contains the Management Discussion & Analysis
section, while Part II contains the Financial statements and Footnotes.
In what section of ArchCoal's 2013 10-K did the company disclose EBITDA?
Item 7. Management discussion & analysis
Item 1. Business
Item 8. Financial Statements and Supplementary Data
Item 6. Selected financial data -
ANSWER-Item 7. Management discussion & analysis
In what section of BRE's 2012 10-K did it provide a complete GAAP Net income to Non-
GAAP Core FFO reconciliation?
Item 6. Selected financial data
Item 7. Management discussion & analysis
Item 1. Business
Item 8. Financial Statements and Supplementary Data -
ANSWER-Item 7. Management discussion & analysis
,The income statement included in a company's 10-K must show 3 years of results, while
the balance sheet must show 2 years.
False
True -
ANSWER-True
How much "cash and equivalents" did PG have as of June 30, 2013? Please provide
your answer in millions without $ sign or comma separator (Ex: 2345) -
ANSWER-PG had cash and cash equivalents of $5,947m on its balance sheet as of
June 30, 2013.
What is the latest actual share count reported in the 2013 PG 10-K? Please provide
your answer without comma separator or decimal (Ex: 23456326563) -
ANSWER-According to PG's 10-K the latest actual share count is 2,738,760,542.
What was PG's net change in cash in 2013? Please provide your answer in millions
without $ sign or comma separator (Ex: 2345) -
ANSWER-PG's net change in cash in 2013 came to $1,511 million
PG reported Diluted EPS of $3.86 in accordance with GAAP. How much higher would
EPS be if PG ignored the impact of restructuring and impairment charges during the
period? Please provide your answer with 2 decimal places, but without $ sign (Ex: 0.50)
-
ANSWER-$0.10+$0.18 = $0.28, per p.34 of PG 2013 10-K (MD&A).
How many PG options were outstanding as of June 30, 2013? Please provide your
answer without comma separator or decimal (Ex: 23456326563) -
ANSWER-306,239 options were outstanding as of June 30, 2013
What is the numerator used to calculate 2013 Basic EPS for PG? Is this figure reported
on PG's Income Statement?
$11,312; Yes
$11,068; No
$11,068; Yes
$11,068; Yes -
ANSWER-$11,068; No
$11,068 is used as the numerator to calculate 2013 basic EPS, as reported in the
company's Note 7.
For PG, what was the accumulated depreciation as of Jun 30, 2013? Enter as a positive
number in millions without $ sign or comma separator (Ex: 2345) -
ANSWER-The accumulated depreciation totaled $21,346 million.
What is the useful life PG uses for machinery & equipment? Enter as a positive number
(Ex: 23) -
ANSWER-The useful life of the PG equipment is 15 years.
PG reported $8,828m in accrued & other liabilities as of June 30, 2013. What category
made up the largest component of these liabilities? Please write it exactly as it appears
in the filing. -
ANSWER-The category is Marketing and Promotion.
, For PG, what was the amount of pre-tax impairment charges related to goodwill and
indefinite-lived intangible assets recorded in 2013? Enter as a positive number in
millions without $ sign or comma separator (Ex: 2345) -
ANSWER-The amount of pre-tax goodwill impairment by PG totaled $308 million in
2013.
For PG, which reportable segment was this impairment recorded? -
ANSWER-This impairment is recorded under the Appliances segment.
Was this the first time the segment had a goodwill impairment for PG?
No
Yes -
ANSWER-No
For PG, what was the weighted average interest rate the company faced on all of its
long-term debt in 2013? Enter with 1 decimal place and with % sign (Ex: 9.9%) -
ANSWER-PG's weighted average interest rate was 3.3%, per the company's note
4.
What was the balance of all deferred tax assets for PG as of June 30, 2013? Enter as a
positive number in millions without $ sign or comma separator (Ex: 2345) -
ANSWER-The entire balance of DTA's is listed in the company's income tax footnote.
The balance on the balance sheet is only for current DTA's.
It is 4/18/2014. What are the revenues Google reported on its latest available quarterly
financials (use revenues for the latest three months)? Enter as a positive number in
millions without $ sign or comma separator (Ex: 2345) -
ANSWER-Google reported
$15,420 million in revenues -- Source filing: 4/16/14 8-k
Did Google eliminate stock-based compensation expense when calculating its Non-
GAAP EPS on its latest available quarterly financials? -
ANSWER-Yes, Reconciliation is available in the 8-K PR
Does Google provide this GAAP to non-GAAP reconciliation in its latest 10-K? -
ANSWER-No
It is 4/18/2014. What is Google's latest available actual share count (include both
classes)? Please provide your answer without comma separator or decimal (Ex:
23456326563) -
ANSWER-Answer: 280,844,569 + 55,800,053 = 336644622 - date is
March 17, 2014, per the March 28 2014 proxy.
It is 1/15/2014. What is Apple's latest available actual share count? Please provide your
answer without comma separator or decimal (Ex: 23456326563) -
ANSWER-892,553,950 - Source filing: 1/10/14 DEF 14A
It is 4/18/2014. What is Google's latest available number of exercisable stock options?
Please provide your answer without comma separator or decimal (Ex: 23456326563) -
ANSWER-3,795,911 - per the company's 2013 10-K, p. 80
