PROBLEM 16-36
PROBLEM 15-39______________________________________________________________
Walt Disney Company is a well-known entertainment company. The following data are from its 2002 annual report (in millions):
Walt Disney Company
Retained earnings, end of year $12,979 Dividends paid $ ?
Revenues 25,329 Retained earnings,
Net interest expense 453 beginning of year 12,171
Income taxes 853 Operating costs and expenses 22,924
Other income, net 137 Cash and cash equivalents 1,239
Required:
1. Prepare the following for the year:
a. Income statement. The final three lines of the income statement were labeled as income before taxes, income taxes, and net income.
b. Statement of retained earnings. Compute the amount of dividends paid.
2. Comment briefly on the relative size of the cash dividend.
Instructions:
1. Review the printed template called Problem 15-39 that follows these instructions. In some problems, some of the problem data have been entered for you in the data input section of the spreadsheet.
2. There are 10 FORMULAS in the template that you need to provide to complete your analysis. Using the spaces provided below, write the formulas where requested in the template.
FORMULA 1 _________________ FORMULA 6 _________________
FORMULA 2 _________________ FORMULA 7 _________________
FORMULA 3 _________________ FORMULA 8 _________________
FORMULA 4 _________________ FORMULA 9 _________________
FORMULA 5 _________________ FORMULA 10 _________________
PROBLEM 15-39
Continued
3. Click the Excel icon from the program manager screen to start the spreadsheet program. Click on the Open File SmartIcon/Button to retrieve the template for the problem. Then enter the 10 FORMULAS where indicated on the template.
Type the answer where indicated.
4. Click the Save File SmartIcon/Button to save your work.
5. Click the Print Button to print your work.
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