Which one of the following is not a tool for analyzing financial statements?

Tools of Financial Statement Analysis include techniques that help interpret and evaluate financial data to make informed decisions about a business's performance and position.

Comparative Statements are statements prepared by placing data of two or more periods side by side to facilitate comparison. They show absolute figures, absolute changes, and percentage changes, making them a key analytical tool.

Ratio Analysis involves calculating and interpreting various financial ratios (like Current Ratio, Debt-Equity Ratio, Return on Investment, etc.) from financial statements to assess liquidity, solvency, profitability, and efficiency.

Cash Flow Statements, while being a financial statement itself, also serves as an analytical tool. It helps analyze the cash generating capacity of a business by classifying cash flows into operating, investing, and financing activities.

Measures of Central Tendency (Mean, Median, Mode) are statistical tools used to find the central or average value of a dataset. These are general statistical concepts taught in mathematics and are not specific tools designed for financial statement analysis.

While financial analysis may occasionally use statistical methods, measures of central tendency are not recognized as standard tools under the framework of financial statement analysis as per accounting principles.

Therefore, Option 4 is not a tool for analyzing financial statements.