Research the financial statements for a company of your choice.

1. You can locate the annual statements (called “10-K” forms) for all public U.S. companies in the SEC’s EDGAR system. Annual statements will often include commentary explaining recent financial changes and events.
2. Many free financial websites, such as Morningstar, provide financial data and ratios for public companies. Search for your company on Morningstar and then select “Operating Performance” for a list of ratios for previous years.
3. Consider accessing company reports through OCLS using the Business Insights: Essentials tool. Detailed financial and investment reports are available for hundreds of companies.
4. Prepare a paper analyzing the company’s past three years of financial results:
   1. Begin by creating a table listing at least 10 financial ratios for the last three years (three years trend, 10 ratios, 30 ratios total). You can either calculate these ratios yourself using the financial data found, or use the ratios you find from your sources.
   2. The ratios you study are up to you. Use whatever ratios you find most revealing. However, you should include return on equity (ROE) and its three components: total asset turnover, profit margin, and financial leverage (asset/equity or debt/equity).
   3. Evaluate and comment on any interesting trends you find. What ratios have changed significantly over the past three years? What does this indicate? Do the ratios suggest financial strength? What potential weaknesses do you see? What could the company do to improve these ratios?
   4. Conclude with a recommendation, based on your analysis, as to whether the company is prepared to take on a large growth opportunity.