Basic Elements of Financial Reports Comparative income statements for Thesaurus Inc. are as… 1 answer below »

Basic Elements of Financial Reports Comparative income statements for Thesaurus Inc. are as follows:

Required

The president and management believe that the company performed better in 2008 than it did in

2007. Write the president’s letter to be included in the 2008 annual report. Explain why the company

is financially sound and why shareholders should not be alarmed by the reduction in

income in a year when operating revenues increased significantly.