Kansas City, Mo. ? Shares of Aquila Inc. continued to slide on Friday, one day after the stock lost more than half its value after investors became concerned over financial changes the company made to its annual report.

The share price of the Kansas City-based company, which operates Lawrence’s natural gas service, dropped by 14.5 percent Friday, closing at $2.05 on the New York Stock Exchange. On Thursday, the stock lost 51 percent of its value. For the year, the stock is down 90 percent.

Investors spent much of Thursday and Friday trying to determine what changes had been made to the company’s annual report. Aquila earlier in the week announced it had certified its financial results, but did not announce that it had made some changes.

After review, the annual report shows the company cut, by nearly half, the amount of cash it said it generated from ongoing business operations.

The stock also was affected by disclosure that Aquila faces a need for more cash if its credit rating is cut to junk bond status, and a report that it borrowed against a bank line of credit to raise $400 million.

The company has been trying to bolster its credit rating by selling assets, cutting its dividend and laying off hundreds of employees.

Aquila, formerly UtiliCorp United, is one of several energy traders to run into trouble since Enron Corp., the industry’s pioneer, went bankrupt amid a scandal over alleged improper accounting.

The Securities and Exchange Commission ordered top officers of the 947 largest companies to personally vouch for the accuracy and completeness of their company’s filings. Most companies faced a Wednesday deadline.

Two certified public accountants who reviewed the original and amended annual report pointed out that the original annual report filed in March showed Aquila’s operations had generated $223.7 million in cash. But the amended report on Wednesday showed operations generating only $112.9 million, with the other $110.8 million coming from the sale of stock in a subsidiary.

Steve Browne of Kansas City’s Meara, King & Co. said the difference was important to analysts. Cash generated by Aquila’s business operations is likely to continue and help meet future payments of debt, dividends and reinvestment in the business, while the gain from selling securities isn’t a continuing source of cash.