258 CHAPTER 5 The Analysis of Financial Statements Case 5.3Facebook, Inc. The fo

Question

258 CHAPTER 5 The Analysis of Financial Statements Case 5.3Facebook, Inc. The following excerpts are from the 2013 Form 10-K of Facebook, Inc.11 FACEBOOK, INC. CONSOLIDATED BALANCE SHEETS (In millions, except for number of shares and par value) December 31, 2013 2012 Assets Current assets: $3,3232,384 7,242 Cash and cash equivalents Marketable securities Accounts receivable, net of allowances for doubtful accounts of $38 and $22 as of December 31, 2013 and December 31, 2012, respectively Income tax refundable 8,126 1,109 51 461 13,070 2,882 1,722 221 17,895 719 451 471 11,267 2,391 1,388 57 $15,103 Prepaid expenses and other current assets Total current assets Property and equipment, net Goodwill and intangible assets, net Other assets Total assets Liabilities and stockholders' equity Current liabilities: Accounts payable Developer partners payable Accrued expenses and other current liabilities Deferred revenue and deposits Current portion of capital lease obligations $ 87 $ 65 169 423 30 365 1,052 491 1,500 305 3,348 181 38 239 1,100 237 Total current liabilities Capital lease obligations, less current portion Long-term debt Other liabilities 1,088 2,425 Total liabilities Commitments and contingencies 1l Extracted from 10-K filings for Facebook, Inc. 2013. Obtained from U.S. Securities and Exchange Commission. www.sec.gov

Explanation / Answer

Common Size Statement - Balance Sheet Particulars 2012 ($) % 2013 ($) % Assets Current Assets : Cash & cash equivalents       3,323 18.57%       2,384 15.78% Marketable Securities       8,126 45.41%       7,242 47.95% Accounts Receivable       1,109 6.20%           719 4.76% Income tax refundable             51 0.28%           451 2.99% Prepaid expenses           461 2.58%           471 3.12% Total Current Assests    13,070 73.04%    11,267 75% Property & equipment, net       2,882 16.11%       2,391 15.83% Goodwill & intangible assets, net       1,722 9.62%       1,388 9.19% Other Assests           221 1.23%             57 0.38% Total Assets     17,895 100%     15,103 100% Liabilities and stockholders' equity Current Liaiblities : Accounts Payable             87 0.49%             65 0.43% Developers partners payable           181 1.01%           169 1.12% Accrues expenses and other current liabilities           555 3.10%           423 2.80% Deferred revenue and deposits             38 0.21%             30 0.20% Current portion of capital lease obligations           239 1.34%           365 2.42% Total Current Liabilities       1,100 6%       1,052 7% Capital Lease obligations, less current portion           237 1.32%           491 3.25% Long term debt              -   0.00%       1,500 9.93% Other liabilities       1,088 6.08%           305 2.02% Total Liabilities       2,425 13.55%       3,348 22.17% Commitments & contengencies Stockholders' equity : Common stock              -   0.00%              -   0.00% Additional paid-up capital     12,297 68.72%     10,094 66.83% Accumulated & other comprehensive income             14 0.08%                2 0.01% Retained Earnings       3,159 17.65%       1,659 10.98% Total Stockholders' equity     15,470 86.45%     11,755 77.83% Total Liabilities & stockholders' equity     17,895 100%     15,103 100%

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