Comparative financial statements are reports that show financial amounts in side by side columns on a single statement for analysis purposes. True False QUESTION 12 Cash paid for merchandise is an operating activity. True False QUESTION 13 Graphical analysis of the balance sheet can be useful in assessing sources of financing. True False QUESTION 14 The evaluation of company performance and financial condition includes evaluation of (1) past and current performance (2) current financial position, and (3) future performance and risk. True False