There are a lot of numbers, but there is an order to read them in. What each statement says.
Financial statements are three documents answering different questions. The income statement answers how much was earned over a period, the balance sheet answers what is owned and owed right now, and the cash flow statement answers how much cash actually came in and went out. They exist separately because the three can disagree.
The income statement works downward, subtracting categories of cost in turn. Seeing which step erodes the profit shows where the problem sits. Revenue up but operating profit down points at cost of sales or selling expenses; operating profit flat but net profit down points at interest or tax.
Selling goods without yet being paid produces profit with no cash. When that gap widens, a company can be profitable on paper and still run into danger. This is why checking that operating cash flow moves in the same direction as operating profit matters. Rising profit alongside persistently negative cash flow is worth investigating.
Carrying debt is not bad in itself. Normal levels vary by industry, and borrowing to earn more can be a reasonable choice. The question is whether it can be repaid. Whether operating profit covers the interest, how much debt matures soon, and how much cash is on hand together make the judgement possible.
One year's figures can swing on one-off events: selling an asset can inflate profit, and clearing a large cost at once can produce a loss. Laying three to five years side by side and reading the direction tells you more than studying a single year closely.
Each button runs this keyword on that search engine