Each chapter in the textbook contains a continuation of this problem. The objective is to learn how to do a comprehensive financial statement analysis in steps as you learn the content of each chapter. Keep this in mind as you complete each week’s written assignment.  Write a 2-page paper analyzing the Eastman Kodak Balance Sheet using the Eastman Kodak 2007 Annual Report and Form10-K, including the important points that an analyst would use in assessing the financial condition of Eastman Kodak.  Attach the Excel worksheet that you created to do the analysis.Open the financial statement analysis template that you saved from the Chapter 1 Eastman Kodak problem and input the data from the Eastman Kodak balance sheet. Eastman Kodak has combined many of its asset and liability accounts into one comprehensive account on the balance sheet.  Be sure to read the notes to determine the correct numbers to input in the template.  For example, the company has combined many items in the account “Other long-term assets” that should be separated into appropriate accounts.  When you have finished inputting the data, review the balance sheet to make sure there are no red blocks indicating that your numbers do not match the cover sheet information you input from the Chapter 1 problem.  Make any necessary corrections before saving your input and the common-size balance sheet that the template automatically creates for you, you will be submitting this saved “print-out” to your instructor.Analyze the balance sheet.  Write a summary that includes important points that an analyst would use in assessing the financial condition of Eastman 

Using the sample financial statements, calculate the financial ratios and then interpret those results against historical data and industry benchmarks. Write a paper in essay format. Follow the Grading Guide. Write a summary of your analysis. Show financial calculations where appropriate

Income statements are presented in the table below for the Elf Corporation for the years ending December 31, 2010, 2009, and 2008. Write a one-paragraph analysis of Elf Corporation’s profit performance for the period.  The focus of the analysis involves creating a common sized Income Statement for the three years and relating the parts of the statement to draw conclusions, ultimately to find the causes and effects of Elf's performance for those three years.  Respond to at least two of your fellow students' postings.      Elf Corporation Income Statements for the Years Ending December 31(in millions)201020092008Sales$700$650$550Cost of goods sold 350 325 275Gross profit350325275Operating Expenses:   Administrative100100100Advertising and marketing    50    75    75Operating profit$200$150$100Interest expense    70    50   30Earnings before tax$130$100$ 70Tax expense (50%)     65    50     35Net income$   65$   50$   35