These questions reference the chapter 17 Goodwill Discussion questions 1. Why does Goodwill utilize performance ratio analysis? 2. Identify the three major financial statements prepared by the not-for-profit organization Goodwill. Whats the key difference between assets and liabilities? Which of the key financial statements features these categories prominently? 3. Identify the six steps in the accounting cycle. What are the key reasons that firms do ratio analysis?