Transcription of Introduction to Financial Statement Analysis 7 - …
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Introduction to Financial Statement Analysis 7 - …
Chapter 1 introduced you to the Financial statements of Great Deal, Inc. As shown in Exhibit , Great Deal earned $1,317 million in fiscal 2012, $1,003 million in fiscal 2011, and $1,407 million in 2010. Exhibit shows that Great Deal s total assets increased over the same period: from $12,758 million in 2010, to $15,826 million in 2011, to $18,302 million in Financial data do not indicate whether Great Deal is performing well or poorly. Specifi-cally, neither the balance sheet alone nor the income Statement alone provides sufficient informa-tion to answer the following questions about Great Deal s performance and risk: How does Great Deal s recent profitability compare to its prior profitability, and to its com-petitors profitability?
220 Chapter 7 Introduction to Financial Statement Analysis 1. Understand the purpose and content of three principal financial statements and related notes.
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