The balance sheet presents the three elements of financial position namely, assets, liabilities and equity. The balance sheet highlights the accounting equation which provides: Assets = Liabilities + Equity. In a balance sheet presentation, assets and liabilities are further classified into current and non-current to distinguish those used directly for operations as to those for long-term usage. An income statement is a formal statement prepared for a given period of time showing the performance of the enterprise. Performance is primarily measured in terms of the level of income earned by through the effective and efficient use of its resources. An income statement generally follows the equation: Net Sales/Revenue - Direct and Operating Expenses = Income. The Statement of Cash flow provide information about the historical changes in cash and cash equivalents which classifies cash flows during the period from operating, investing, and financing activities.

For the companies Ford Motor Company,...
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