Problem 1: What does the income statement tell you about the company? Why is this statement important? What business decisions could be made using the income statement?
Problem 2: What does the balance sheet tell you about the company? Why is the balance sheet important? What business decisions could be made using the balance sheet?
Problem 3: What does the statement of cash flows tell you about the company? What business decisions could be made using the statement of cash flows?
Problem 4: What information is provided in the statements that will assist you in making these business decisions? What information is not provided that could assist in managerial decision making?