Obtain the 2001 and 2014 annual reports of Goldcorp Inc. from SEDAR (www.sedar.com). Read the annual report material leading up to the financial statement section and answer the following questions:

(a) Explain how the company's business changed in the thirteen years from 2001 to 2014. What significant events occurred in 2014?

(b) Prepare a horizontal analysis of key elements of the financial statements from 2001 to 2014. (Calculate each financial statement item for the current year as a percentage of the amount reported for a specific prior year.) Include revenue, operating earnings (loss), current assets, current liabilities, working capital, net earnings (loss) from continuing operations, and shareholders' equity. Include also the ratios of operating income (loss) to revenue, the current ratio, and the return on shareholders' equity.

(c) What was the effect on key ratios of the event(s) identified in part (a)? Include in your answer as well the total cost to produce an ounce of gold and the average selling price of gold. (This information can be found in the Management Discussion and Analysis part of the annual report.)