2. Trend Analysis: explain variance (horizontal) analysis of MANULIFE company for the three most current years for each of thefinancial statements listed below. Provide an explanation for significant variances in thefinancial statement line items. Do not select totals / subtotals eg. total assets, total liabilities,net income, etc). For each statement, a minimum of 2-3 line items should be supported by anexplanation, but not less than 5 in total.

A. Balance Sheet B. Income Statement