Most libraries have company annual reports on file or available on microfiche.

\section*{Instructions}

Obtain copies of the financial statements of two companies and answer these questions:

(a) What were the total assets, total liabilities, and total stockholders' equity at the most recent balance sheet date?

(b) Mathematically demonstrate that the basic accounting equation holds for each company.

(c) Who was the auditor of each company?

(d) What were the net sales (or revenue) and net income in the most recent income statement?

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