1. Please use the attached financial statements to conduct a horizontal and vertical historical analysis for the referenced company.

Netflix Inc. Consolidated Statements of Comprehensive Income 2019 Retrieved from (https://www.sec.gov!) Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands 12 Months Ended Dec. 31, 2019 Dec. 31. Dec. 31, 2018 2017 Statement of Comprehensive Income [Abstract] Net income $ 1,866,916 $ 1,211,242 $ 558,929 Other comprehensive income (loss): Foreign currency translation adjustments (3,939) 975 27,409 Change in unrealized gains (losses) on available-for-sale securities, net of tax of $0, $0, 599 and $378, respectively Total other comprehensive income (loss) (3,939) 975 28,008 Comprehensive income $ 1,862,977 $ 1,212,217 $ 586,937Netflix Inc. Consolidated Balance Sheets 2019 Retrieved from (https://www.sec.gov!) Consolidated Balance Sheets - USD ($) $ in Thousands Dec. 31, 2019 Dec. 31, 2018 Current assets: Cash and cash equivalents $ 5,018,437 $ 3,794,483 Current content assets, net 5,151,186 Other current asset 1,160,067 748,466 Total current assets 6,178,504 9,694,135 Non-current content assets, net 24,504,567 14,951,141 Property and equipment, net 565,221 418,281 Other non-current asset 2, 727,420 10,843 Total assets 33, 975, 712 25,974,400 Current liabilities: Current content liabilities 4,413,561 4,681,562 Accounts payable 674,347 562,985 Accrued expenses and other liabilities 843, 043 481,874 Deferred revenue 924, 745 760,899 Total current liabilities 6,855,696 5,487,320 Non-current content liabilities 3,334,323 3, 759,026 Long-term debt 14,759,260 10,360,058 Other non-current liabilities 1,444,276 29,231 Total liabilities 26,393,555 20,735,635 Commitments and contingencies Stockholders' equity: Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2019 and 2018; no 0 0 shares issued and outstanding at December 31, 2019 and 2018 Common stock, $0.001 par value; 4,990,000,000 shares authorized at December 31, 2019 and 2,793,929 2,315,988 December 31, 2018, respectively; 438,806,649 and 436,598,597 issued and outstanding at December 31, 2019 and December 31, 2018, respectively Accumulated other comprehensive loss (23,521) (19,582) Retained earnings 4,811, 749 2,942,359 Total stockholders' equity 7,582, 157 5,238,765 Total liabilities and stockholders' equity $ 33, 975, 712 $ 25,974,400Netflix Inc. Consolidated Statements of Cash Flows 2019 Retrieved from (https://www.sec.gov/) Consolidated Statements of Cash Flows - USD ($) $ in 12 Months Ended Thousands Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2017 Cash flows from operating activities: Net income $ 1,866,916 $ 1,211,242 $ 558,929 Adjustments to reconcile net income to net cash used in operating activities: Additions to streaming content assets (13,916,683) (13,043,437) (9,805,763) Change in streaming content liabilities (694,011) 999,880 900,006 Amortization of streaming content assets 9,216,247 7,532,088 6, 197,817 Depreciation and amortization of property, equipment and 103 ,579 83,157 71,911 intangibles Stock-based compensation expense 405,376 320,657 182,209 Other non-cash items 228,230 81,640 117,864 Foreign currency remeasurement loss (gain) on long-term debt (45,576) (73,953) 140, 790 Deferred taxes (94,443) (85,520) (208,688) Changes in operating assets and liabilities: Other current assets (252, 113) (200, 192) (234,090) Accounts payable 96.063 199,198 74,559 Accrued expenses and other liabilities 157 , 778 150,422 114,337 Deferred revenue 163,846 142,277 177,974 Other non-current assets and liabilities (122,531) 2,062 (73,803) Net cash used in operating activities (2,887, 322) (2,680,479) (1,785,948) Cash flows from investing activities: Purchases of property and equipment (253,035) (173,946) (173,302) Change in other assets (134,029) (165,174) (60,409) Purchases of short-tern (74,819) Proceeds from sale of short-term investments 0 0 320, 154 Proceeds from maturities of short-term investments 0 0 22, 705 Net cash provided by (used in) investing activities (387,064) (339,120) 34,329 Cash flows from financing activities: Proceeds from issuance of debt 4,469,306 3,961,852 3,020,510 Debt issuance costs (36, 134) (35,871) (32, 153) Proceeds from issuance of common stock 72,490 124,502 88,378 Other financing activities (1,956) 255 Net cash provided by financing activities 4,505,662 4,048,527 3,076,990 Effect of exchange rate changes on cash, cash equivalents and 469 39,682) 29,848 restricted cash Net increase in cash, cash equivalents and restricted cash 1,231, 745 989,246 1,355,219 Cash and cash equivalents, beginning of year 3,812,041 2,822, 795 1,467,576 Cash, cash equivalents and restricted cash, end of year 5,043,786 3,812,041 2,822, 795 Supplemental disclosure: Income taxes paid 400,658 131,069 113,591 Interest paid $ 599,132 $ 375,831 $ 213,313