Part 1 Discussion 1 – 200 words + financial statements/balance sheet
- Prepare a comparative balance sheet, income statement, and statement of cash flows, and perform a horizontal analysis of the company’s balance sheet, income statement, and statement of cash flows for the most recent 2 years. Identify at least one significant change (increase or decrease) from one year to the next in a balance sheet account, income statement account, and statement of cash flows account.
- Identify the causes of the change in each of these accounts.
- Discuss the implications of each of these account changes, and your assessment of the company based on these changes. Do these changes reflect positively or negatively on the company, and what is your assessment of the outlook for the company?
Part 2 Discussion 1 – 200 words + financial statements/balance sheet
Using the company, ProFrac Holding Corp., and their annual reports (referenced below) & chapter 5 of textbook (Using Financial Accounting) answer the below questions.
- Prepare common-size balance sheets, income statements, and statements of cash flows for your chosen company for the latest 2 years. Identify one company that competes with your chosen company, obtain their financial statements for the most recent two years, and prepare common-size balance sheets, income statements, and statements of cash flows for your chosen company for the latest 2 years. Can provide screenshots or separate files.
- Explain why common-sized financial statements are a convenient way to compare financial statement items within the same period, between periods, and between competing companies.
- Perform a vertical analysis of at least one item on the common-size balance sheet, income statement, and statement of cash flows you prepared for the most recent year. Compare each item to the same item on the common-size financial statements for the previous period and to the same item on the common-size financial statements you prepared for the competing company.
- Discuss what this comparison tells you about your chosen company’s current financial condition, how it compares to the previous year, and how it compares with the financial condition of your chosen company’s competitor.
Form 10-K. (2022, December 31). ProFrac Holding Corp. https://ir.pfholdingscorp.com/sec-filings/annual-reports/content/0000950170-23-010960/0000950170-23-010960.pdfLinks to an external site.
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