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 based on the statements and how various stakeholders may react. They must also identify the most significant current industry trend impacting financial performance and how to minimize the impact. Finally, students should recommend a key strategy to improve financial performance and how to implement it.