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A close friend is thinking about buying an existing business and has been carefully studying the records of the business to get a good handle

A close friend is thinking about buying an existing business and has been carefully studying the records of the business to get a good handle on its historical financial performance. Your friend asks you, "What suggestions do you have for me to make the best use of this financial information (i.e., three years of audited income statements, balance sheets, and statements of cash flow)?" What suggestions would you give to them for making the maximum use of the financial statements?

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