liquidity

I usually look at the MD&A of the company. 99% of the time, you’re guaranteed to find sales forecasts in management’s discussion. However, you’d be naive to take manangement’s word on it. I take it a step further to look at the competitors’ numbers to determine whether the subject company’s numbers are reasonable. This is just the starting point. I guess this should be enough if you’re simply doing this for fun.
For realistic analysis, you must look at industry-specific publications and access market trends from sources like Bloomberg, ValueLine, Morningstar, etc. to get to a feasible number. This trick was discussed in the L2 material, but you can also double-check your analysis by reverse engineering your numbers from average forecasts of other analysts (this data is available for free on Yahoo, Google, etc. - at least in its basic form).
You can really recognize a company’s BS when you look at other sources. I have seen some reports wherein the analysts simply take the GDP numbers and interpolate them for forecasts. This is surely the dumbest way to get a report out .
Hope this helps.