When looking at a companies annual reports, what do you guys look for?

So full disclosure, this is for a school requirement. I tried using GPT and it gave a lot, so I was wondering is it really Revenue Growth, Net Income, Earnings Per Share (EPS), Total Assets, Total Liabilities, Shareholders’ Equity, Current Ratio (Current Assets / Current Liabilities), Operating Cash Flow, Free Cash Flow, Capital Expenditures. And ratios of

• Profitability Ratios: Gross Margin, Operating Margin, Net Profit Margin
• Liquidity Ratios: Current Ratio, Quick Ratio
• Solvency Ratios: Debt-to-Equity Ratio, Interest Coverage Ratio
• Efficiency Ratios: Inventory Turnover, Receivables Turnover

Not to mention it also says to do research on news articles and industry and market analysis. But we're tasked to do a 5 year analysis of the companies annual reports. Is it really this much? Or are there just key things you look for? (I never thought when people say “due diligence” it mean't a whole lot of this and more)