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Bank of America Business Analysis
Assignment Week 5
Bank of America’s financial statements
When looking over bank of America’s income statement I observed that the total revenues and gross profit has risen ten thousand dollars, from 71,073.00 to 81,785.00, but their earnings from continuing operations have fallen four thousand dollars, from 66,276.00 to 2,238.00. (Bloomberg, 11)
When I compared bank of America’s income statement to BB&T income statement I noticed that BB&T had revenues and gross profit that also increased but their earrings from continuous operations increased where Bank of America’s decreased. When I compared Bank of Americas income statement to Wells Fargo’s income statement I observed that their total revenues and gross profit decreased.
When looking at the balance sheet I observed that cash and equivalents have increased while trading and securities have dipped over the last year (269,828.00 to267.671.00). But Bank of America’s total cash and short term investments has increased from 605,302 to 612,147.00.over the last year. The balance sheet has shown that Bank of America has shown stability. There have been some decreases in portions of their equity but all in all they have shown an increase. (Bloomberg, 11)
When comparing Bank of America’s balance sheet to BB&T’s balance sheet I noticed that BB&T’s total assets increased as well as their total stockholder equity while Bank of Americas stockholders equity decreased. When I compared Bank of America’s balance sheet to Wells Fargo’s balance sheet I observed that Wells Fargo had an increase in total assets as well as an increase in stockholder equity
When reviewing bank of America’s cash flow I observed that there has been a significant decrees over the last year. The Cash and cash equivalents decreased during 2010 due to repayment and maturities of certain long term debt.
When I compared Bank of America’s cash flow to...