As a team, select an industry to analyze. Reuters provides lists of industries under Sectors and Industries at www.reuters.com. (Click on an industry and then select Company Rankings for a list of members of that industry.) Each team member should acquire the annual report or 10-K for one publicly traded company in the industry, with each member selecting a different company. (Library files, the SEC EDGAR service at www.sec.gov, or the company itself are good sources.)

Required:
On an individual basis, each team member should write a short report answering the following questions about the selected company. Discuss any patterns across the companies that you as a team observe. Then, as a team, write a short report comparing and contrasting your companies.

On an individual basis, each team member should write a short report that answers the following questions:

1. Determine whether the company prepared consolidated financial statements. If so, did it use the purchase method? How do you know?

2. Does the company use the equity method for any of its investments?

3. Does the company hold any investments in securities? If so, what is their fair value? Does the company have any unrealized gains or losses?

4. Identify the company’s lines of business. Why does management want to engage in these business
activities?