Summary – Chapter 3, Part 2 Homework

It looks like a lot, but its not.. it\’s just really spread out

You will be using the Financial Statement Analysis Template that you started on in Case 1.2 so you need to locate that on your computer. You will also be using the 2013 Form 10-K for Applied Materials which you can locate at this link: 

https://www.sec.gov/Archives/edgar/data/6951/000000695113000044/amat10272013-10kdoc.htm

(a) Read the instructions above regarding how to use the template. Then enter the appropriate information for each of the income statement items (Note: When inputting restructuring charges and impairments the template requires a positive number be input. Since Applied Materials has a negative amount for 2011, this will need to be included in the \”Other operating expenses\” line on the template.) There are some lines listed on the template that you will not find any information for Applied Materials such as Purchased In-Process R & D and there may not be information for a particular year. Don\’t enter any information for these even a zero just leave them blank. There are some lines that will require you to add one or more amounts together but there are no multiple sources of revenue and cost of goods sold so do not enter any information for these at the bottom of the worksheet. When you have finished inputting the data, review the income as indicated in the instructions above to make sure there are no red blocks indicating that your numbers do not match the cover sheet information you input from the Chapter 1 problem. Make any necessary corrections before printing out both your input and the common-size income statement that the template automatically creates for you.  You will be entering information from the income statement and common-size income statement into the fill-in-the-blank questions.

(b) You will need to answer some multiple choice questions to analyze the income statement and common-size income statement information including using the Management Discussion and Analysis section of the Form 10-K so make sure you have it available for this portion.

Here is the fill in the blank for the quiz:

Question 1 options: Net sales for 2011 using a $ and comma (Example – $1,234) was: 

Question 2 (1 point)  

Question 2 options: Net sales for 2012 using a $ and comma (Example – $1,234) was: 

Question 3 (1 point)  

Question 3 options: Net sales for 2013 using a $ and comma (Example – $1,234) was: 

Question 4 (1 point)  Question 4 options: Cost of Goods Sold for 2011 using a $ and comma (Example – $1,234) was: 

Question 5 (1 point)  Question 5 options: Cost of Goods Sold for 2012 using a $ and comma (Example – $1,234) was: 

Question 6 (1 point)  Question 6 options: Cost of Goods Sold for 2013 using a $ and comma (Example – $1,234) was: 

Question 7 (1 point)  Question 7 options: Gross Profit for 2011 using a $ and comma (Example – $1,234) was: 

Question 8 (1 point)  Question 8 options: Gross Profit for 2012 using a $ and comma (Example – $1,234) was: 

Question 9 (1 point)  Question 9 options: Gross Profit for 2013 using a $ and comma (Example – $1,234) was: 

Question 10 (1 point)  Question 10 options: Sales, General and Administrative expenses for 2011 using a $ and comma (Example – $1,234) was: 

Question 11 (1 point)  Question 11 options: Sales, General and Administrative expenses for 2012 using a $ and comma (Example – $1,234) was: 

Question 12 (1 point)  Question 12 options: Sales, General and Administrative expenses for 2013 using a $ and comma (Example – $1,234) was: 

Question 13 (1 point)  Question 13 options: Research and Development expenses for 2011 using a $ and comma (Example – $1,234) was: 

Question 14 (1 point)  Question 14 options: Research and Development expenses for 2012 using a $ and comma (Example – $1,234) was: 

Question 15 (1 point)  Question 15 options: Research and Development expenses for 2013 using a $ and comma (Example – $1,234) was: 

Question 16 (1 point)  Question 16 options: Restructuring, Impairment, and Amortization Expenses for 2012 using a $ and comma (Example – $1,234) was:

 Question 17 (1 point)  Question 17 options: Restructuring, Impairment, and Amortization Expenses for 2013 using a $ and comma (Example – $1,234) was:

 Question 18 (1 point)  Question 18 options: Other Operating Expenses for 2011 using a $ and comma and parentheses for a negative amount (Example – $(1,234)) was:

 Question 19 (1 point)  Question 19 options: Other Operating Expenses for 2013 using a $ and comma and parentheses for a negative amount (Example – $(1,234)) was: 

Question 20 (1 point)  Question 20 options: Total Operating Expenses for 2011 using a $ and comma (Example – $2,500) was: 

Question 21 (1 point)  Question 21 options: Total Operating Expenses for 2012 using a $ and comma (Example – $2,500) was: 

Question 22 (1 point)  Question 22 options: Total Operating Expenses for 2013 using a $ and comma (Example – $2,500) was: 

Question 23 (1 point)  Question 23 options: Operating Profit (Loss) for 2011 using a $ and comma (Example – $2,500) was: 

Question 24 (1 point)  Question 24 options: Operating Profit (Loss) for 2012 using a $ and comma (Example – $2,500) was: 

Question 25 (1 point)  Question 25 options: Operating Profit (Loss) for 2013 using a $ and comma (Example – $2,500) was: 

Question 26 (1 point)  Question 26 options: Other Income (Expenses) not including Interest Expense for 2011 using a $ and comma (Example – $2,500) was: 

Question 27 (1 point)  Question 27 options: Other Income (Expenses) not including Interest Expense for 2013 using a $ and comma (Example – $2,500) was: 

Question 28 (1 point)  Question 28 options: Earnings (Loss) before Interest and Taxes for 2011 using a $ and comma (Example – $2,500) was: Question 29 (1 point)  

Question 29 options: Earnings (Loss) before Interest and Taxes for 2012 using a $ and comma (Example – $2,500) was: 

Question 30 (1 point)  Question 30 options: Earnings (Loss) before Interest and Taxes for 2013 using a $ and comma (Example – $2,500) was: 

Question 31 (1 point)  Question 31 options: Interest Expense for 2011 using a $ and comma (Example – $2,500) was: 

Question 32 (1 point)  Question 32 options: Interest Expense for 2012 using a $ and comma (Example – $2,500) was: 

Question 33 (1 point)  Question 33 options: Interest Expense for 2013 using a $ and comma (Example – $2,500) was: Question 34 (1 point)  

Question 34 options: Earnings (Loss) before Taxes for 2011 using a $ and comma (Example – $2,500) was: Question 35 (1 point)  

Question 35 options: Earnings (Loss) before Taxes for 2012 using a $ and comma (Example – $2,500) was: 

Question 36 (1 point)  Question 36 options: Earnings (Loss) before Taxes for 2013 using a $ and comma (Example – $2,500) was: 

Question 37 (1 point)  Question 37 options: Provision for (Benefit from) income taxes for 2011 using a $ and comma (Example – $2,500) was: 

Question 38 (1 point)  Question 38 options: Provision for (Benefit from) income taxes for 2012 using a $ and comma (Example – $2,500) was: 

Question 39 (1 point)  Question 39 options: Provision for (Benefit from) income taxes for 2013 using a $ and comma (Example – $2,500) was: 

Question 40 (1 point)  Question 40 options: Earnings (Loss) after taxes for 2011 using a $ and comma (Example – $2,500) was: 

Question 41 (1 point)  Question 41 options: Earnings (Loss) after taxes for 2012 using a $ and comma (Example – $2,500) was: 

Question 42 (1 point)  Question 42 options: Earnings (Loss) after taxes for 2013 using a $ and comma (Example – $2,500) was: 

Question 43 (1 point)  Question 43 options: Basic Earnings Per Share for 2011 using a $ and two decimal points (Example – $1.26) was: 

Question 44 (1 point)  Question 44 options: Basic Earnings Per Share for 2012 using a $ and two decimal points and include a 0 before the decimal point (Example – $0.06) was: 

Question 45 (1 point)  Question 45 options: Basic Earnings Per Share for 2013 using a $ and two decimal places and include a 0 before the decimal point (Example – $0.06) was: 

Question 46 (1 point)  Question 46 options: Gross Profit Margin Percentage for 2011 using the percent symbol and one decimal point (Example – 24.6%) was:

 Question 47 (1 point)  Question 47 options: Gross Profit Margin Percentage for 2012 using the percent symbol and one decimal point even if a 0 is needed (Example – 24.0%) was: 

Question 48 (1 point)  Question 48 options: Gross Profit Margin Percentage for 2013 using the percent symbol and one decimal point (Example – 24.8%) was:

 Question 49 (1 point)  Question 49 options: Operating Profit (Loss) Percentage for 2011 using the percent symbol and one decimal point (Example – 24.8%) was: 

Question 50 (1 point)  Question 50 options: Operating Profit (Loss) Percentage for 2012 using the percent symbol and one decimal point  (Example – 24.8%) was: 

Question 51 (1 point)  Question 51 options: Operating Profit (Loss) Percentage for 2013 using the percent symbol and one decimal point (Example – 24.8%) was: 

Question 52 (1 point)  Question 52 options: Net Profit (Loss) Percentage for 2011 using the percent symbol and one decimal point (Example – 24.8%) was:

 Question 53 (1 point)  Question 53 options: Net Profit (Loss) Percentage for 2012 using the percent symbol and one decimal point (Example – 24.8%) was:

 Question 54 (1 point)  Question 54 options: Net Profit (Loss) Percentage for 2013 using the percent symbol and one decimal point (Example – 24.8%) was:

 Question 55 (1 point)  Question 55 options: Effective Tax Rate Percentage for 2011 using the percent symbol and one decimal point including a 0 (Example – 24.0%) was: 

Question 56 (1 point)  Question 56 options: Effective Tax Rate Percentage for 2012 using the percent symbol and one decimal point (Example – 24.5%) was:

 Question 57 (1 point)  Question 57 options: Effective Tax Rate Percentage for 2013 using the percent symbol and one decimal point (Example – 24.5%) was

 Question 58 (1 point)  Based on the Management Discussion and Analysis for the 2013 10-K which of the following statements is correct regarding the reason for the decrease in net sales from 2012 to 2013:

Multiple choice:

Question 58 options:

For fiscal 2013 as compared to fiscal 2012, net sales in Energy and Environmental Solutions increased, while net sales across all other segments decreased.

a. For fiscal 2013 as compared to fiscal 2012, net sales in Display increased, while net sales across all other segments decreased.

b. For fiscal 2013 as compared to fiscal 2012, net sales in Silicon Systems Group increased, while net sales across all other segments decreased.

c. For fiscal 2013 as compared to fiscal 2012, net sales in Applied Global Services increased, while net sales across all other segments decreased.

 Question 59 (1 point)  Based on the Management Discussion and Analysis for the 2013 10-K, which of the four operating units for Applied Materials is the largest contributor to net sales:

Question 59 options:

a. Energy and Environmental Solutions

b. Silicon Systems Group

c. Display

d. Applied Global Service

Question 60 (1 point)  Based on  the Management Discussion and Analysis for the 2013 10-K which of the following statements is correct regarding the reason for the decrease in net sales from 2011 to 2012:

Question 60 options:

a. For fiscal 2012 as compared to fiscal 2011, net sales in Applied Global Service increased slightly while net sales across all other segments decreased.

b. For fiscal 2012 as compared to fiscal 2011, net sales in the Silicon Systems Group increased slightly while net sales across all other segments decreased.

c. For fiscal 2012 as compared to fiscal 2011, net sales in Display increased slightly while net sales across all other segments decreased.

d. For fiscal 2012 as compared to fiscal 2011, net sales in Energy and  Environmental Solutions increased slightly while net sales across all other segments decreased.

Question 61 (1 point)  According to the Management Discussion and Analysis for the 2013 From 10-K, which of the following statements is correct regarding the gross profit margin change from 2012 to 2013?

Question 61 options:

a. Gross margin percent and non-GAAP adjusted gross margin percent decreased in fiscal 2013 compared to fiscal 2012 despite higher sales, due primarily to higher inventory charges, an unfavorable product mix, and material cost increases.

b. Gross margin percent and non-GAAP adjusted gross margin percent increased in fiscal 2013 compared to fiscal 2012 despite lower sales, due primarily to lower inventory charges, a favorable product mix, and material cost reductions.

c. Gross margin percent and non-GAAP adjusted gross margin percent increased in fiscal 2013 compared to fiscal 2012 due to higher sales and lower inventory charges, a favorable product mix, and material cost reductions.

d. Gross margin percent and non-GAAP adjusted gross margin percent decreased in fiscal 2013 compared to fiscal 2012 due to lower sales, despite lower inventory charges, a favorable product mix, and material cost reductions.

Question 62 (1 point)  Based on the Management Discussion and Analysis for the 2013 Form 10-K, all of the following are true about Applieds Research and Development Costs except?

Question 62 options:

Development cycles range from 3 to 6 months depending on whether the product is an enhancement of an existing product, which typically has a longer development cycle, or a new product, which typically has a shorter development cycle.

Applied has maintained and intends to continue its commitment to investing in RD&E in order to continue to offer new products and technologies.

Applied believes that it is critical to continue to make substantial investments in RD&E to assure the availability of innovative technology that meets the current and projected requirements of its customers’ most advanced designs.

Applied’s future operating results depend to a considerable extent on its ability to maintain a competitive advantage in the equipment and service products it provides.

Question 63 (1 point)  Using the common-size income statement information, which of the following statements is true regarding the movement of operating profit margin change from 2011 to 2013?

Question 63 options:

Operating profit margin dropped significantly in 2012 and decreased only slightly in 2013.

Operating profit margin increased in 2012 and decreased only slightly in 2013.

Operating profit margin dropped significantly in 2012 and increased only slightly in 2013.

Operating profit margin increased significantly in 2012 and increased only slightly in 2013.

Question 64 (1 point)  Based on the income statements and common-size income statements for Applied Materials, which of the following statements is correct regarding interest expenses from 2011 to 2013?

Question 64 options:

Interest expense decreased as a percentage of sales but increased in actual amount from 2012 to 2013.

Interest expense increased as a percentage of sales, but was unchanged in actual amount from 2012 to 2013.

Interest expense decreased as a percentage of sales, but was unchanged in actual amount from 2012 to 2013.

Interest expense increased as a percentage of sales but decreased in actual amount from 2012 to 2013.

Question 65 (1 point)  Using the common-size income statement, which of the following statements is true regarding Applied Material\’s effective tax rate over the periods 2011 – 2013?

Question 65 options:

AMAT’s effective tax rate has been volatile.

AMAT’s effective tax rate has been relatively stable.

AMAT’s effective tax rate has steadily decreased.

Question 66 (1 point)  Which of the following statements regarding Applied Materials Net profit margin from 2011 to 2012 is correct based on the common-size income statements?

Question 66 options:

Net profit margin has followed the trend of operating profit margin. The past two years have been especially poor for AMAT

Net profit margin has not followed the trend of operating profit margin. The past two years have been especially good for AMAT

Net profit margin has not followed the trend of operating profit margin. The past two years have been especially poor for AMAT

Net profit margin has followed the trend of operating profit margin. The past two years have been especially good for AMAT

 

 

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