Memo to Blair

Shantae Lovett

ACC: 201

Instructor: LaKeitha Givens

December 3, 2012

Sam and his sister Blair both attend the State University. As a reward for their successful completion of the past year (Sam had a 3.2 GPA in Business, and Blair had a 3.7 GPA in art), their father gave each of them 100 shares of THE WALT DISNEY COMPANY stocks. They have just received their first annual report. Blair does not what the information means and has asked Sam to explain to her. Sam is currently taking an accounting course, and she knows he will understand the financial statement.

Required

Assume that you are Sam. Write Blair a memo explaining the following financial statement items to her. In your statement, describe each of the two financial statements and...