Evaluating a firm's financial health

1. You overhear your coworker say that only the balance sheet and income statement are needed to evaluate a firm's financial health. Do you agree with this assessment? Why, or why not? Explain. 2. The balanced scorecard is a tool for determining follow-up processes. Do an Internet search using the key term "balanced scorecard." Pick out two components or aspects that the balanced scorecard assesses, and then discuss why you think those aspects are the most important in strategic management implementation and/or evaluation.