1. What is the date of the most recent fiscal year end? It should be the date of the 10-K you are reviewing.

2. Review the initial information about the industry and the Management Discussion & Analysis. You need not include your observations in your responses, but you should record and keep them, as noted above.

3. Determine the relative proportion of short-term and long-term assets.

4. Determine the relative proportion of liabilities and equity.

5. Calculate the return on assets (ROA) for the most recent year.

6. Disaggregate the ROA into the two components shown in Exhibit 1.7 in the text.

7. Find the industry average for ROA and debt/equity.

8. Review the company’s audit report. Are any concerns mentioned? Who are the auditors? Instructions for submission of your responses to the Ongoing project: a. Your response must be prepared using either Word or Excel. Include each question in the document and insert your responses directly below the questions (i.e., do not merely number each question and put in a response). Complete responses, written in full sentences, are expected for every question, and all calculations must be shown explicitly and be traceable back to the financial statements. Identify the page(s) in the 10-K where you obtained the information needed to respond to the question. b. Your response should be headed with your name, the name of your company, and the exact URL of the company’s 10-K. (Copy-and-paste the URL, do not type; then test the URL to be sure it opens correctly). c. Name your file: Last name, Company, Module #.