As the recession squeezes overhead, the variety of tools available that credit managers can utilize to create a detailed snapshot of their existing or potential customers are being more often discussed. One of the most interesting, and potentially insightful, is a customer's annual report, which will contain the company's financial statement. Financial statements are made up of several components: the balance sheet, income statement, statement of retained earnings and statement of cash flows. For any credit manager planning to use financial statement analysis on their customers, Toni Drake, CCE, TRM Financial Services Inc, reiterates that at its heart, it is a trend analysis. Drake admitted that her personal favorite piece of a financial statement was the cash flow statement, the cash inflows and outflows of a company. Another of Drake's favorites is the quick ratio, which takes current assets minus inventory and then divides it by current liabilities.