This document provides instructions for a financial statement analysis assignment. Students are asked to analyze the financial statements of either Universal Health Services or Health Management Associates over a three-year period. As the newly appointed CFO, students must suggest insights into the company's financial health and stakeholders' likely reactions. They must also identify the most significant industry trend impacting financial performance, the effect on the company, and a strategy to minimize the impact. Additionally, students should propose a key strategy to improve financial performance and how it could be implemented.