Q Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated. Vertical Analysis of Common-Size Financial Statements Case Study [WLO: 2] [CLOs: 1, 2, 3] Twitter Prior to beginning work on this discussion forum, read Chapter 13 in the course textbook, Using Financial Accounting Information: The Alternative to Debits and Credits. Using the same company and annual reports that you chose for your Reading and Using the Annual Report Case Study in Week 1, • 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. • 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. Your initial response should be a minimum of 200 words. Graduate school students learn to assess the perspectives of several scholars. Support your response with at least one scholarly and/or credible resource, in addition to the text. Guided Response: Respond to at least two of your fellow students’ or instructor posts in a substantive manner and provide information or concepts that they may not have considered. Each response should have a minimum of 100 words and be respectful of others’ opinions and beliefs that differ from your own. Support your position by using information from the week’s readings. You are encouraged to post your required replies earlier in the week to promote more meaningful and interactive discourse in this discussion forum. Continue to monitor the discussion forum until Day 7 and respond with robust dialogue to anyone who replies to your initial post.