1. Use the template to do the ratio analysis. Note that the template is only for two years.

2. Choose a public company and get the most recent five years of financial statements

3. Do the financial ratio analysis using these five years of info. Note that you might need to compress (add) some of the items together to get to the format used in the template.

4. Comment on the change of each ratio, using year to year change. If you don’t know what it is, Google it.

5. At the end, make a final recommendation as to invest in this company. Why and Why not. Note: no more than one page in writing on this recommendation.

Fiscal year is November-October. All values CAD millions.	2015	2016	2017	2018	2019	5-year trend
Interest Income	22.73B	24.45B	26.9B	33.02B	41.33B
Interest and Fees on Loans	16.88B	17.88B	18.68B	21.25B	24.86B
Interest Income on Fed. Funds	1.25B	1.82B	3.02B	5.54B	8.96B
Interest Income on Fed. Repos	-	-	-	-	-
Interest on Bank Deposits	77M	167M	307M	566M	683M
Other Interest or Dividend Income	4.52B	4.59B	4.9B	5.67B	6.83B
Total Interest Expense	7.96B	7.92B	9.76B	15.07B	21.58B
Interest Expense on Bank Deposits	5.72B	5.47B	6.56B	9.84B	12.99B
Other Interest Expense	2.24B	2.45B	3.2B	5.23B	8.6B
Interest Expense on Debt	240M	227M	270M	322M	365M
Interest Capitalized	-	-	-	-	-
Other Borrowed Funds	2B	2.23B	2.93B	4.91B	8.23B

	2015	2016	2017	2018	2019	5-year trend
Net Interest Income	14.77B	16.53B	17.14B	17.95B	19.75B
Loan Loss Provision	1.1B	1.55B	1.15B	1.31B	1.86B
Net Interest Income after Provision	13.67B	14.99B	15.99B	16.65B	17.89B
Non-Interest Income	21.01B	21.78B	23.25B	23.51B	25.19B
Securities Gain	198M	162M	224M	147M	125M
Trading Account Income	552M	701M	806M	1.15B	995M
Trust Income, Commissions & Fees	13.55B	14.32B	15.79B	16.6B	16.74B
Commission & Fee Income	13.55B	11.43B	7.65B	7.67B	7.37B
Other Operating Income	5.89B	5.64B	5.46B	5.61B	7.33B
Non-Interest Expense	22.04B	23.56B	24.85B	25.51B	28.22B
Labor & Related Expense	11.58B	12.2B	13.33B	13.78B	14.6B
Equipment Expense	2.69B	3.01B	3.02B	3.15B	3.41B
Other Operating Expense	6.69B	7.78B	7.9B	8.01B	9.59B
Operating Income	12.64B	13.21B	14.39B	14.64B	14.85B
Non-Operating Income (Expense)	(19M)	-	-	1.1B	986M
Non-Operating Interest Income	-	-	-	-	-
Miscellaneous Non Operating Expense	(19M)	-	-	1.1B	986M
Equity in Affiliates (Pretax)	-	-	-	-	-
Unusual Expense	143M	89M	52M	-	-
Pretax Income	12.47B	13.12B	14.34B	15.74B	15.84B
Income Taxes	2.6B	2.84B	3.2B	3.33B	3.04B
Income Tax - Current - Domestic	2.33B	2.93B	3.24B	3.13B	3.2B
Income Tax - Current - Foreign	-	-	-	-	-
Income Tax - Deferred - Domestic	267M	(84M)	(36M)	201M	(156M)
Income Tax - Deferred - Foreign	-	-	-	-	-
Income Tax Credits	-	-	-	-	-
Equity in Affiliates	149M	176M	335M	21M	76M
Other After Tax Income (Expense)	-	-	-	-	-
Consolidated Net Income	10.03B	10.46B	11.47B	12.43B	12.87B
Minority Interest Expense	101M	53M	41M	31M	11M
Net Income	9.93B	10.41B	11.43B	12.4B	12.86B
Extraordinaries & Discontinued Operations	-	-	-	-	-
Extra Items & Gain/Loss Sale Of Assets	-	-	-	-	-
Cumulative Effect - Accounting Chg	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Net Income After Extraordinaries	-	-	-	-	-
Preferred Dividends	191M	294M	300M	285M	269M
Net Income Available to Common	9.73B	10.11B	11.13B	12.12B	12.59B
EPS (Basic)	6.75	6.80	7.59	8.39	8.78
Basic Shares Outstanding	1.44B	1.49B	1.47B	1.44B	1.43B
EPS (Diluted)	6.73	6.78	7.56	8.36	8.75
Diluted Shares Outstanding	1.45B	1.49B	1.47B	1.45B	1.44B

Answer rating: 100% (QA)

Answer 1 Ratio Analysis The following table presents the financial ratios for a public company for the past five years 201520162017201820195Year Trend ... View the full answer