For each of the companies answer/apply the followings. 1) What accounting standards are used? 2) What is the date of most recent fiscal year end (the date of the latest annual financial report)? 3) Determine the relative proportion of current and non-current assets 4) Determine the relative proportion of current and non-current liabilities. 5) Determine the relative portion of liabilities and equity 6) Calculate return on assets for last two years 7) Calculate return on equity for last two years 8) Read the audit reports. Did auditors raise any concern in the audit report? If yes, what was their concern? Who are the auditors? Is there any change in the auditors over three- year period? 9) What is the percentage of Cash and Cash Equivalents relative to total assets? 10)Does the company hold cash in foreign currency? (Find from footnotes) 11)What is the percentage of Trade Receivables in total assets? What is the amount of allowances for trade receivables? (Find from footnotes) 12)What proportion of liabilities devoted to financial liabilities? 13)What proportion of liabilities devoted to operating liabilities? 14)What is the proportion of Property, Plant, and Equipment in total assets? IV. Significant Accounting Policies 1) Depreciation policy of the companies Find the depreciation policy of the companies from the footnotes (method, useful lives and residual value) (provide page numbers). And compare the policies of two companies. (150 words) 2) Policies for contingencies and commitments Find the policies for contingencies and commitments of the companies (provide page numbers). Compare the policies of two companies. (150 words) 3) Revenue recognition policy of the companies Find revenue recognition policies of the companies (provide page numbers). Compare the policies. (150 words) V. Balance Sheet Analysis Prepare a common size balance sheet for each company assigned to your group. To do this first put three years balance sheets on an excel file make the calculations. Prepare common size tables and make the vertical analysis over time and between the companies including the answers of the followings (300 words). 1) What are each company's largest class of assets? Largest class of liabilities? 2) What proportion of assets is financed by owners? 3) What proportion of assets is financed by creditors? VI. Income Statement Analysis Prepare a common size income statement for each company assigned to your group. Express each item on the income statement as a percentage of total sales or revenue. Make the vertical analysis over time and between the companies including the answers of the followings and tell whether the situation for the companies is favorable or unfavorable. (300 words). 1) What are the companies' major expenses? 2) Which company is more profitable