Which aspect of a company’s operations does a comparative balance sheet analyze?

A comparative balance sheet primarily focuses on asset distribution, as it provides a side-by-side analysis of a company's assets, liabilities, and equity for multiple periods. This format enables stakeholders to see how these elements have changed over time, offering insights into the company's financial position and overall health.

By comparing the balance sheets from different periods, management and investors can discern patterns in asset allocation, such as increases or decreases in current and long-term assets, which helps assess how well the company utilizes its resources. This analysis is crucial for understanding operational efficiency and making informed decisions regarding future strategies.

The other options, while important financial metrics, are not the focus of a comparative balance sheet. Profit and loss statements deal more with revenue and expenses over a particular period rather than how assets and liabilities are structured. Revenue growth is measured through income statements, reflecting performance in generating sales. Market share analysis involves looking at the company’s sales relative to industry sales, which does not directly relate to the financial positioning reflected in a balance sheet.