Financial reports are the primary means by which corporations report their performance and financial condition. Financial statements are one component of the annual report mailed to their shareholders and to interested others. Many companies are using the 10-K report that they file with the SEC as a replacement for the financial portion of their annual report.

Required:

Obtain the most recent annual report (or 10-K report) for the year ended 12/31/2016 (filed 2/22/17) for Boston Beer Co Inc. The easiest way is to use the searchable EDGAR database (under filings on the SEC.gov (Links to an external site.)Links to an external site. website). Put in the name (shown exactly as above) or the ticker symbol (SAM) in the box to the right. Be sure you use the most recent (2016) 10-K report that was filed on 2/22/17.  Click on the blue oval that reads "Interactive Data."

After browsing the report, click on the yellow-orange header that reads, "Financial Statements" to answer the following questions:

Required:

1.  What was the Boston Beer's net income for the current year? Did their income increase or decrease from the previous year?  By how much? (Be sure to indicate "in millions" or "in thousands" when necessary.) 

2.  Using the numbers from their latest balance sheet (and information learned Ch 1), write out Boston Beer's  accounting equation. (Be sure to indicate "in millions" or "in thousands" when necessary.) 

3.  Looking at the Statement of Cash Flows, what was the change in Cash and Cash Equivalents for the current year ending 12/31/16? (Be sure to indicate "in millions" or "in thousands" when necessary.)