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Company : Fannie Mae deTailed analysis of the company’s current financial statements, elements of their MD&A as well as their plans for the future probably addressed by the Presidents Letter and other information presented in their annual report THE PROCESS •OBTAIN THE BALANCE SHEET AND INCOME STATEMENT •PREPARE A COMMON SIZE AND FLUCTUATION ANALYSIS •PERFORM RATIO ANALYSIS •LIQUIDITY •PROFITABILITY •DEVELOP QUESTIONS SOLELY FROM ANALYTICAL REVIEW PROCEDURES •Review •10 K •Management, Discussion & Analysis •Key Performance Indicators •Segment Operations •Capital Resources & Liquidity •Risk Factors •Legal Proceedings •Critical Accounting Estimates •Financial Statements including Footnotes •Annual Report •Presidents’ Letter •Press Releases Character of revenue 2.Type operating expenses 3.How much cash generated from operations? 4.Which operations were discontinued? 5.What was the profitability of these discontinued operations in previous years? 6.Why were they discontinued? 7.How was the discontinued operations reflected on the Balance Sheet? 8.What was the stock price at December 31st and what was it the date the results were announced