Jacob McDonough breaks down the 1920 Annual Report of General Motors. You can reach Jacob with any questions or comments at jacob@mcdonough-investments.com or on Twitter @McD_Investments.

You can find annual reports of General Motors at archive.org at the link below:

https://archive.org/details/general-motors-annual-reports/General%20Motors%201918%20Annual%20Report/

You can find the excellent book 'My Years at General Motors' at archive.org at the link below:

https://archive.org/details/myyearswithgener0000unse