Discuss the significance of financial statement analysis and its role in evaluating the performance and financial health of a company. Explain various analytical tools, such as ratio analysis, trend analysis, and comparative analysis, and their application in financial decision$-$making.

Financial statement analysis involves evaluating financial statements to assess a company's performance and financial health. Explain various analytical tools, such as ratio analysis $($e$.$g$.,$ liquidity, profitability, and solvency ratios$),$ trend analysis $($examining financial performance over time$),$ and comparative analysis $($comparing with industry peers$).$ Discuss how these tools are applied in financial decision$-$making to identify strengths and weaknesses, assess risk, and make informed business decisions.