Access the annual reports for a selected company for the past three years. Next, select a company that is a direct competitor and download the previous three years annual reports. Using the annual reports of both companies complete the following:
For each company report the amount of capital spending for the past three years. Quantitatively determine whether the amount of capital spending has been consistent or if it has fluctuated. Be sure to provide the calculations used to determine your answer. Describe the capital expenditures of each firm and the factors that impacted the companies' debt capacity and capital structure.
Next, compare the level of capital spending across the two firms. Point out how the spending was similar and/or different and speculate why the similarities or differences might exist. Support your analysis with evidence using in cite citations. Summarize your findings in a three to five pages.