I Projections should be based on research performed on your company and its industry. Use historical, trend, ratio data and current and future economic projections as well as information from the company's MDSIA to aid in preparing projections. I Clearly state your assumptions in a text box at the bottom of each tab. Cite sources for assumptions based on research. I The statements should be consistent, reasonable, and accurate. Areas that will be checked for accuracy include: I The Balance Sheets should balance for all years presented. I Retained earnings should be properly calculated using the prior year's balance, net income, and dividends. I The Ending Cash Balance on the Statement of Cash Flows should agree to the Cash Balance shown on the Balance Sheet for the same year. I Net Income on the Income Statements should match what is reported on the top of the Statement of Cash Flows (if indirect method is used)