Each chapter in the textbook contains a continuation of this problem. The objective is to learn how to do a comprehensive financial statement analysis in steps as the content of each chapter is learned. Using the 2007 Eastman Kodak Annual Report and Form 10-K that can be found at www.prenhall .com/ fraser, complete the following requirements:

(a) Open the financial statement analysis template that you saved from the Chapter 1 Eastman Kodak problem and input the data from the Eastman Kodak balance sheet. Eastman Kodak has combined many of its asset and liability accounts into one comprehensive account on the balance sheet. Be sure to read the notes to determine the correct numbers to input on the template. For example, the company has combined many items in the account "Other long-term assets" that should be separated into appropriate accounts. When you have finished inputting the data, review the balance sheet to make sure there are no red blocks indicating that your numbers do not match the cover sheet information you input from the Chapter 1 problem. Make any necessary corrections before printing out both your input and the common-size balance sheet that the template automatically creates for you.

(b) Analyze the balance sheet. Write a summary that includes important points that an analyst would use in assessing the financial condition of Eastman Kodak.