FINANCIAL STATEMENT ANALYSIS Reproduced on the following page are portions of the presidents letter to shareholders and

Question:

FINANCIAL STATEMENT ANALYSIS Reproduced on the following page are portions of the president’s letter to shareholders and selected income statement and balance sheet data for the Wright Brothers Aviation Company. Wright Brothers is a national airline that provides both passenger service and package delivery service.

Required:

What trends do you detect in revenues, operating income, and net income for the period 2005–2009?

What happened to the difference between current assets and current liabilities over the 2005–2009 period? To what do you attribute this result?

The price of Wright Brothers stock declined steadily throughout the 2005–2009 period. Do you consider this decline to be a reasonable reaction to the financial results reported? Why or why not?

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