Starbucks presented the following in its 2010 annual report:
No customer accounts for 10% or more of revenues. Revenues are shown based on the geographic location of our customers. Revenues from countries other than the US consist primarily of revenues from Canada and the UK, which together account for approximately 64% of net revenues from other countries for fiscal 2010.
Management evaluates the performance of its operating segments based on net revenues and operating income. The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies in Note 1. Operating income represents earnings before net interest income and other, interest expense and income taxes. Management does not evaluate the performance of its operating segments using asset measures. The identifiable assets by segment disclosed in this note are those assets specifically identifiable within each segment and include net property, plant and equipment, equity and cost investments, goodwill, and other intangible assets. Corporate assets are primarily comprised of cash and investments, assets of the corporate headquarters and roasting facilities, and inventory.
a. Comment on the vertical common-size presentation for “Beverage, Food, Whole bean and soluble coffees and Other.”
b. 1. Prepare a horizontal common-size analysis of revenue with September 28, 2008 as the base for “Beverage, Food, Whole Bean and Soluble Coffees, and Other”
2. Comment on b(1).
c. For net revenues from external customers:
1. Prepare a vertical common-size analysis for United States and other countries. Use total as the base.
2. Comment on c(1).
3. Prepare a horizontal common-size analysis, with September 28, 2008 as the base, for United States and other countries.
4. Comment on c(3).
d. 1. Prepare a vertical common-size analysis for long-lived assets. Use total as the base.
2. Comment on d(1).
3. Prepare a horizontal common-size analysis, with September 28, 2008 as the base, for long-lived assets.
4. Comment on d(3).
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