An investor planning changes to her investment portfolio, looked at Sleeman Breweries Limited (SBL) as a potential investment opportunity. The company had experienced strong growth, primarily through mergers and acquisitions, and had achieved success within the very competitive beer industry. She needed to evaluate the risks and opportunities of investing in SBL. Using qualitative and quantitative information she had to: size-up the current and future management direction of the company; analyse SBL's financial data using the calculation and interpretation of ratios as an analytic tool; and prepare a statement of changes in financial position.