As a team, select an industry to analyze. A list of companies classified by industry can be obtained by accessing www.fpinfomart.ca and then choosing "Companies by Industry." You can also find a list of industries and companies with each industry via http://ca.finance.yahoo.com/investing (click on "Annual Reports" under "Tools"). Using a Web browser, each team member should acquire the annual report for one publicly traded company in the industry, with each member selecting a different company.

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 three companies that your team observes. Then, as a team, write a short report comparing and contrasting your companies.

1. Which of the two basic reporting approaches for cash flows from operating activities did the company adopt?

2. What is the quality of earnings ratio for the most current year? What were the major causes of differences between profit and cash flow from operations?

3. What is the capital acquisitions ratio for the three-year period presented in total? How is the company financing its capital acquisitions?

4. What portion of the cash from operations in the current year is being paid to shareholders in the form of dividends?