The financial statements for Wichita Riding Club Inc follow
The financial statements for Wichita Riding Club, Inc., follow.

Wichita Riding Club, Inc.
Statement of Cash Flows
For the Month Ended November 30, 2011

1. Explain how the four statements for Wichita Riding Club are related to each other.
2. Which statements are most closely associated with the goals of liquidity and profitability? Why?
3. If you were the owner of this business, how would you evaluate the company’s performance? Give specific examples.
4. If you were a banker considering Wichita Riding Club for a loan, why might you want the company to get an audit by an independent CPA? What would the audit tellyou?
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