• Create common-size balance sheets, income statements, and statements of cash flows for General Motors (NYS:GM) for 2021 and 2022. Identify one company that competes with General Motors (NYS:GM), obtain their financial statements for the most recent two years, and prepare common-size balance sheets, income statements, and statements of cash flows for General Motors (NYS:GM) for 2021 and 2022.
• 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 General Motors (NYS:GM) current financial condition, how it compares to the previous year, and how it compares with the financial condition of General Motors (NYS:GM) competitor.

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