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Next Page Page 4 of 4 Question 4 (11 points) To respond to the requirement below, you will need to open the Annual Report of Empire Company Ltd., located here: https://www.empireco.ca/wp-content/uploads/2020/07/2020-Empire-AR-English-SEDAR.pdf You will need to locate the financial statements within the Annual Report, including the Auditor's Report (see page 43 of the .pdf document. Review the Consolidated Statement of Financial Position and Consolidated Statement of Net Earnings and Comprehensive Income and prepare a horizontal analysis for the 2020 fiscal year end using four (4) line items from each statement (total of 8 items). Once you have completed the above, briefly discuss the overall performance in 2020 (use your professional judgement). You can use the guidelines presented below to prepare your response. a. Explain the purpose of each analyzed item AND whether the results are favourable or unfavourable and why. (8 marks) b. Based on your findings, assess how well the company is conditioned and positioned financially. Be sure to support your recommendation with your results