The Balance Sheet Reader

Analyse this balance sheet and tell me what it says about the company's
financial position.

Balance sheet: [PASTE OR DESCRIBE ASSETS, LIABILITIES, EQUITY]
Prior period for comparison: [PASTE OR "NONE"]
Industry: [DESCRIBE]

Cover:
1. Liquidity — can it pay its short-term bills? (current and quick ratios)
2. Leverage — how much is financed by debt vs equity, and is that risky
   for this industry?
3. Asset composition — what is the money tied up in, and is that
   appropriate?
4. Working capital position and what it implies about operations
5. What changed versus the prior period, and why it might have
6. The single biggest strength and the single biggest concern

Show the ratios with their formulas and the numbers you used.