The industy HAS to be UTILITIES.

Thank You!

Each of you should access the annual report (or Form 10-K filed with the SEC) for one publicly traded company in the industry you were assigned above. In addition to the companys own website, a great source is the SECs Electronic Data Gathering, Analysis, and Retrieval (EDGAR) service. This free source is available by going to the Filings section of SECLinks to an external site. and clicking on Company Filings Search and then entering the Company name." Then look for the "10-K" reports needed.

Be sure you are using the most recent 10-K report, which is an annual report. Do not use the 10-Q because that is a quarterly report.

Answer all of the following questions about your company based on the most recent Income Statement available:

1. By what percentage did net income change? By what percentage did revenue change? Please specify whether each change was an increase or decrease.

2. What was the primary cause of the change in net income? A change in revenue or a change in costs? How can you tell?

3. Looking at costs a bit more, did fixed or variable costs change more? Was it an increase or decrease? What does this say about the company their production process?