Select an industry you are interested in and select two companies within that industry. Obtain their annual reports by going to each company's website and downloading the report for the most recent year. (On many companies' websites, you will need to visit the Investor Relations section to obtain the company's financial statements.) You may also collect the information from the Yahoo Finance website

• Overall, was cash increased or decreased by operating activities?
• What were the major uses or sources of cash related to investing?
• What were the major uses or sources of cash related to financing?
• What is disclosed about the Statement of Cash Flows in the Notes to the Financial Statements
• What items (if any) are disclosed as significant noncash financing or investing activities? Now that you have looked at each company's cash flow statements individually, compare the two companies. What can you tell about each company from its statement of cash flows? Can you tell if one company is stronger than the other from their statements of cash flows? What clues do you have?