- Explain the importance of the balance sheet and income statement in financial decision making.
- Describe the difference between average and marginal tax rates.
- Identify the sources and uses of cash represented on the statement of cash flows.
- Understand how short-term liquidity and long-term solvency measures are calculated and used.
- Describe how profitability measures are used to determine how efficiently the company manages its operations.
- Explain how the DuPont ratio is calculated and used to measure the level of debt financing.
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