What part of the Liberty’s annual report is written by the company and could present a biased view of financial conditions and results?

Data from report

a. Balance Sheet

b. Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A)

c. Auditor’s Report

d. Income Statement

Transcribed Image Text:

Current Assets: LIBERTY CORPORATION Comparative Balance Sheet December 31, 2025 and 2024 Cash and Cash Equivalents Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Other Assets Total Assets Current Liabilities Long-term Liabilities Total Liabilities Assets Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 2025 $ 2,450 1,813 1,324 1,709 7,296 18,500 $ 25,796 $ 7,230 4,798 12,028 6,568 7,200 13,768 $ 25,796 2024 $ 2,094 1,611 1,060 2,120 6,885 15,737 $ 22,622 $ 8,467 3,792 12,259 4,363 6,000 10,363 $ 22,622