For TD BANK, Royal Bank, and Scotia Bank obtain the annual reports of the two companies by using the SEDAR database (for Canadian companies) or EDGAR(for US companies) or you may use other sources available. You will need data for the last 5 years i.e. from 2017 to 2021 or 2016 to 2020. Analyze the statements of cash flows and income statements of the two companies selected to determine the five-year trend of net income and cash flow from operations of the two companies. Construct a table consisting of net income and operating cash flows for the 5 years for each company.

Use relevant graphics (e.g. use EXCEL to create bar charts or other visuals) to analyze and display visually the correlation between net income and cash flow from operations for each of the company visually.

What conclusions can you make from the above analysis about the quality of earnings of each of the two companies?

What additional information or analysis is needed to obtain a more complete analysis of the quality of earnings of the two companies selected?