For this section of the course project, examine Form 10-Q of the SEC firm (AT&T) Tasks:Review the four most recent forms filed by the firm. Include the following in your report: Summarize the...

Form 10-Q is a
eviated/truncate version of Form 10-K which is necessarily filed quarterly. While Form 10-K is mandatorily required to be filed by all publicly traded corporation as per SEC filings rule. Since it is very comprehensive, detailed and exhaustive for any investor to understand and grasp. Besides Form 10-K is filed annually only and cannot provide real time information about the health performance.
While FORM 10-Q serves as quick reference guide to prospective/existing shareholders about valuation metrics and financial ratios on which they base they base their investment decision. As well there is no time lag in the information delivery. While Form 10-Q give unaudited financial statements and gives guidance on company’s financial position for following Quarters.
We have to delve into Form 10-Q to see a quarterly
eak up of performance in the previous year. The results are as under evidenced by disclosures in Form 10-Q :
Performance Trend in Q1’ CY 2022
Form Type : 10-k    Filed Date : 05/03/2022
    CONSOLIDATED STATEMENTS OF INCOME(Unaudited)
    
    Three months ended March 31, ($ in Mn.)
    
    Operating Revenue
    2022
    2021
    QoQ change %
    Service
    $32,392
    $38,504
    (16%)
    Equipment
    $5,713
    $5,435
    4.93%
    
    $38,105
    $43,939
    -
    Operating Expenses
    
    
    
    Cost of Revenues
    17557
    21085
    (16.7%)
    SG&A
    9368
    9382
    (.15%)
    Dep &Amortization
    5539
    5809
    (4.65)
    Operating Income
    5641
    7661
    
    
    
    
    
    Other Income
    2688
    4273
    (37.1%)
    Interest Expense
    (1722)
    (1870)
    
    EBT
    6607
    10064
    (34.4%)
    
    
    
    
    Income Tax Expense
    1443
    2122
    
    EAT
    4762
    7500
    (36.5%)
    
    
    
    
    Free Cash Flow
    10301
    13309
    
    
    2022
    2021
    % change
    Cash from Operations
    $5732
    $9927
    
    Retained Earnings
    45041
    41154
    
Analysis of the Financial Performance Trend    
    Financial Ratio
    2022
    2021
    Remarks
    Cu
ent Ratio
    .932
    .701
    Ratio .Ideal = 1.2 to 2
    Cash Ratio
    .470
    .250
    Ratio. Ideal > 1.0
    Quick Ratio
    .893
    .660
    Ratio. Ideal > 1.0
    Debt Ratio
    .70
    .667
    Ideal Ratio = 1.5
    Debt/Equity Ratio
    2.10
    2.00
    Ideal Ratio = 2:1
    Interest Coverage
    3.28
    4.10
    Ideal Ratio => 3.00
    Inventory Turnover
    5.31
    6.10
    Ideal Ratio 5 and 10x
    AR Turnove
    2.20
    2.50
    Ideal Ratio = 8x
    GP Margin
    54%
    52%
    Ratio = 50-70%
    Operating Margin
    14.80%
    17.43%
    Ratio => 20%
    Net Margin
    12.50%
    17.10%
    Ratio -10-20%
    ROE
    2.55%
    4.10%
    Ratio 15-20%
    Sales to Assets
    6.60
    8.00
    Ratio => 2.5x
Performance Trend in Q2’ CY 2022
Form Type: 10-k    Filed Date: 08/04/2022.
    CONSOLIDATED STATEMENTS OF INCOME(Unaudited)
    
    Three months ended June 31, ($ in Mn.)
    
    Operating Revenue
    2022
    2021
    QoQ change...