Finance and accounting assignment

Item 8. Financial Statements and Supplementary Data

Consolidated Statements of Earnings

Walgreen Co. and Subsidiaries For the years ended August 31, 2014, 2013 and 2012

(In millions, except per share amounts)

2014 2013 2012

Net sales $76,392 $72,217 $71,633 Cost of sales 54,823 51,098 51,291

Gross Profit 21,569 21,119 20,342 Selling, general and administrative expenses 17,992 17,543 16,878 Gain on sale of business — 20 — Equity earnings in Alliance Boots 617 344 —

Operating Income 4,194 3,940 3,464 Interest expense, net (156) (165) (88) Other (expense) income (481) 120 —

Earnings Before Income Tax Provision 3,557 3,895 3,376 Income tax provision 1,526 1,445 1,249

Net Earnings 2,031 2,450 2,127 Net earnings attributable to noncontrolling interests (99) — —

Net Earnings Attributable to Walgreen Co. $ 1,932 $ 2,450 $ 2,127

Net earnings per common share attributable to Walgreen Co. – basic $ 2.03 $ 2.59 $ 2.43 Net earnings per common share attributable to Walgreen Co. – diluted 2.00 2.56 2.42

Average shares outstanding 953.1 946.0 874.7 Dilutive effect of stock options 12.1 9.2 5.4

Average diluted shares 965.2 955.2 880.1

The accompanying Notes to Consolidated Financial Statements are integral parts of these statements.

56