You are a manager at Zoetis, Inc. You will research the company and provide information about it to its new CEO. As part of your research, you will review the company’s financial statements provided in an Excel file and complete Horizontal and Vertical Balance Sheet and Income Statement Analysis in the Excel file. Zoetis Statement of Consolidated Operations (USD $) 12 Months Ended In Millions, except Per Share data, unless otherwise specified Dec. 31, 2017 Dec. 31, 2016 Income Statement [Abstract] Net Sales $ 5,307 $ 4,888 Cost of Goods Sold 1,775 1,666 Gross Profit 3,532 3,222 Operating Expenses Selling, general and administrative expenses 1,334 1,364 Research and development expenses 382 376 Amortization of intangible assets 91 85 Restructuring charges and certain acquisition-related costs 19 5 Total Operating Expenses 1,826 1,830 Income from Operations 1,706 1,392 Interest expense, net of capitalized interest 175 166 Other (income)/deductions––net 6 (2) Income before provision for taxes on income 1,525 1,228 Provision for taxes on income 663 409 Net income before allocation to noncontrolling interests 862 819 Less: Net loss attributable to noncontrolling interests (2) (2) Net income attributable to Zoetis $ 864 $ 821 Earnings per share attributable to Zoetis Inc. stockholders: Basic (in dollars per share) $ 1.76 $ 1.66 Diluted (in dollars per share) $ 1.75 $ 1.65 Weighted-average common shares outstanding: Basic (in shares) 489,918 495,715 Diluted (in shares) 493,161 498,225 Dividends declared per common share $ 0.441 $ 0.390 Zoetis Statement of Consolidated Operations (USD $) 12 Months Ended In Millions, except Per Share data, unless otherwise specified Dec. 31, 2017 Dec. 31, 2016 Income Statement [Abstract] Net Sales $ 5,307 $ 4,888 Cost of Goods Sold 1,775 1,666 Gross Profit 3,532 3,222 Operating Expenses Selling, general and administrative expenses 1,334 1,364 Research and development expenses 382 376 Amortization of intangible assets 91 85 Restructuring charges and certain acquisition-related costs 19 5 Total Operating Expenses 1,826 1,830 Income from Operations 1,706 1,392 Interest expense, net of capitalized interest 175 166 Other (income)/deductions––net 6 (2) Income before provision for taxes on income 1,525 1,228 Provision for taxes on income 663 409 Net income before allocation to noncontrolling interests 862 819 Less: Net loss attributable to noncontrolling interests (2) (2) Net income attributable to Zoetis $ 864 $ 821 Earnings per share attributable to Zoetis Inc. stockholders: Basic (in dollars per share) $ 1.76 $ 1.66 Diluted (in dollars per share) $ 1.75 $ 1.65 Weighted-average common shares outstanding: Basic (in shares) 489,918 495,715 Diluted (in shares) 493,161 498,225 Dividends declared per common share $ 0.441 $ 0.390

You are a manager at Zoetis, Inc. You will research the company and provide information about it to its new CEO. As part of your research, you will review the company’s financial statements provided in an Excel file and complete Horizontal and Vertical Balance Sheet and Income Statement Analysis in the Excel file. Zoetis Statement of Consolidated Operations (USD $) 12 Months Ended In Millions, except Per Share data, unless otherwise specified Dec. 31, 2017 Dec. 31, 2016 Income Statement [Abstract] Net Sales $ 5,307 $ 4,888 Cost of Goods Sold 1,775 1,666 Gross Profit 3,532 3,222 Operating Expenses Selling, general and administrative expenses 1,334 1,364 Research and development expenses 382 376 Amortization of intangible assets 91 85 Restructuring charges and certain acquisition-related costs 19 5 Total Operating Expenses 1,826 1,830 Income from Operations 1,706 1,392 Interest expense, net of capitalized interest 175 166 Other (income)/deductions––net 6 (2) Income before provision for taxes on income 1,525 1,228 Provision for taxes on income 663 409 Net income before allocation to noncontrolling interests 862 819 Less: Net loss attributable to noncontrolling interests (2) (2) Net income attributable to Zoetis $ 864 $ 821 Earnings per share attributable to Zoetis Inc. stockholders: Basic (in dollars per share) $ 1.76 $ 1.66 Diluted (in dollars per share) $ 1.75 $ 1.65 Weighted-average common shares outstanding: Basic (in shares) 489,918 495,715 Diluted (in shares) 493,161 498,225 Dividends declared per common share $ 0.441 $ 0.390 Zoetis Statement of Consolidated Operations (USD $) 12 Months Ended In Millions, except Per Share data, unless otherwise specified Dec. 31, 2017 Dec. 31, 2016 Income Statement [Abstract] Net Sales $ 5,307 $ 4,888 Cost of Goods Sold 1,775 1,666 Gross Profit 3,532 3,222 Operating Expenses Selling, general and administrative expenses 1,334 1,364 Research and development expenses 382 376 Amortization of intangible assets 91 85 Restructuring charges and certain acquisition-related costs 19 5 Total Operating Expenses 1,826 1,830 Income from Operations 1,706 1,392 Interest expense, net of capitalized interest 175 166 Other (income)/deductions––net 6 (2) Income before provision for taxes on income 1,525 1,228 Provision for taxes on income 663 409 Net income before allocation to noncontrolling interests 862 819 Less: Net loss attributable to noncontrolling interests (2) (2) Net income attributable to Zoetis $ 864 $ 821 Earnings per share attributable to Zoetis Inc. stockholders: Basic (in dollars per share) $ 1.76 $ 1.66 Diluted (in dollars per share) $ 1.75 $ 1.65 Weighted-average common shares outstanding: Basic (in shares) 489,918 495,715 Diluted (in shares) 493,161 498,225 Dividends declared per common share $ 0.441 $ 0.390

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Description: You are a manager at Zoetis, Inc. You will research the company and provide information about it to its new CEO. As part of your research, you will review the company’s financial statements provided in an Excel file and complete Horizontal and Vertic

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Zoetis Statement of Consolidated Operations (USD $)	12 Months Ended
In Millions, except Per Share data, unless otherwise specified	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net Sales	$ 5,307	$ 4,888
Cost of Goods Sold	1,775	1,666
Gross Profit	3,532	3,222
Operating Expenses
Selling, general and administrative expenses	1,334	1,364
Research and development expenses	382	376
Amortization of intangible assets	91	85
Restructuring charges and certain acquisition-related costs	19	5
Total Operating Expenses	1,826	1,830
Income from Operations	1,706	1,392
Interest expense, net of capitalized interest	175	166
Other (income)/deductions––net	6	(2)
Income before provision for taxes on income	1,525	1,228
Provision for taxes on income	663	409
Net income before allocation to noncontrolling interests	862	819
Less: Net loss attributable to noncontrolling interests	(2)	(2)
Net income attributable to Zoetis	$ 864	$ 821
Earnings per share attributable to Zoetis Inc. stockholders:
Basic (in dollars per share)	$ 1.76	$ 1.66
Diluted (in dollars per share)	$ 1.75	$ 1.65
Weighted-average common shares outstanding:
Basic (in shares)	489,918	495,715
Diluted (in shares)	493,161	498,225
Dividends declared per common share	$ 0.441	$ 0.390

Zoetis Statement of Consolidated Operations (USD $)	12 Months Ended
In Millions, except Per Share data, unless otherwise specified	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net Sales	$ 5,307	$ 4,888
Cost of Goods Sold	1,775	1,666
Gross Profit	3,532	3,222
Operating Expenses
Selling, general and administrative expenses	1,334	1,364
Research and development expenses	382	376
Amortization of intangible assets	91	85
Restructuring charges and certain acquisition-related costs	19	5
Total Operating Expenses	1,826	1,830
Income from Operations	1,706	1,392
Interest expense, net of capitalized interest	175	166
Other (income)/deductions––net	6	(2)
Income before provision for taxes on income	1,525	1,228
Provision for taxes on income	663	409
Net income before allocation to noncontrolling interests	862	819
Less: Net loss attributable to noncontrolling interests	(2)	(2)
Net income attributable to Zoetis	$ 864	$ 821
Earnings per share attributable to Zoetis Inc. stockholders:
Basic (in dollars per share)	$ 1.76	$ 1.66
Diluted (in dollars per share)	$ 1.75	$ 1.65
Weighted-average common shares outstanding:
Basic (in shares)	489,918	495,715
Diluted (in shares)	493,161	498,225
Dividends declared per common share	$ 0.441	$ 0.390

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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