a. Review the financial statements of Time Warner and its two competitors (Walt Disney & 21 Century Fox ) to determine if they disclose information on pension or other post retirement benefits.
b. Discuss any differences that you find.

2. Analyze the return to stockholders.

a. Calculate the following ratios:
i. Return on common stockholders’ equity
ii. Common stock earning leverage ratio
iii. Financial structure ratio
b. Calculate the same ratios for Time Warner two competitor companies (Walt Disney & 21 Century Fox ) and discuss the relative performance of the three companies from the viewpoint of common stockholders.