1. Discuss the challenges, benefits and purposes of developing pro forma statements? Explain how their explanation could be used in a business situation. 2. What is a Sustainable Growth Rate? What are the factors that affect the achievement of sustainable growth rate for a company? 3. What is the meaning of an initial return for an IPO? How do IPOs perform over the long run? Why do firms engage in IPOs? 4. Compare and contrast scenario analysis and sensitivity analysis. Provide an example to help explain your response. 5. Why do firms outsource? Will outsourcing's importance grow in the future? If so, why