(This issue was hard to summarize since there really wasn't much of a plot. Sorry if the information below isn't too helpful.)
It is April Fools Day in Gotham City, and Batman is in the Batcave, poring over the details of the case. Similarly the Riddler has been brought to the Falcone penthouse to give his theories on who Holiday might be.
The Riddler's first theory is that the .22s are light and easy to fire. They would be the perfect gun for a woman to use, specifically Catwoman. Her access to Falcone's ledger gave her the names of everyone in the Falcone family. Plus, there was the bounty Carmine put on her head as motivation.
Batman suggests Maroni as a suspect. Maroni becomes Holiday to weaken his rival's hold on the city, taking out his nephew, his men, his bodyguard, and his son.
The Riddler proposes Carla Viti, killing her own son as an alibi to commit the future murders, and killing Alberto as an eye for an eye.
Alfred informs Batman that he has skipped over a certain suspect. Batman assumes he means Calendar Man, who is safely locked away in Arkham, but actually he meant Harvey Dent. Batman reviews the facts about the possibility of him being Holiday, but he hopes that it is not true.
In Harvey Dent's office Vernon, Jim, and Harvey are working late. They have finally come to a decision, albeit reluctantly, to arrest Bruce Wayne for his possible involvement in the Falcone family.
The Riddler is pressed by Carmine for a definitive answer, not just guesses at the culprit's identity. Sofia presses him further until he surmises that the Roman himself is Holiday. Carmine laughs and has Sofia throw the Riddler out into the alley. There he meets Holiday who opens fire on him... and misses, leaving the Riddler to ponder why he was left alive.
Annotations/Analysis
Page 2 and 3--Batman says that the clues are "easily obtainable at any five and dime store." This statement is obviously true since Carmine has identical clues on his desk.
Page 4--
In panel one, we see the leprechaun statue sitting on the Roman's desk, but by page ten they will have magically disappeared.
The Riddler's holding one of Holiday's .22s in panel one. Where did he get it? Is that the one Carla had last issue? If so, then Sofia did tell Carmine about it, even though she said last issue she wouldn't.
Batman's doing forensics there in panel two.
Riddler's snap judgment in the last panel on why Holiday uses .22s, "He gets them wholesale," might be close to the truth. We see Gunsmith with a shelf full of them in the next issue.
Page 5--Here's the "Catwoman perspective," Riddler's ideas on how Catwoman may have done the Holiday murders, starting here with Johnny and then the Irish on the next page...
Page 7--...finally ending with the others on this page. But the Riddler's theory doesn't fly because, as he states in panel one of this page, she would need the ledger she stole back in June for a list of victims. We know, but the Riddler doesn't, that Batman stole the ledger and gave it to the police, not Catwoman.
Page 8--Here we have Batman exploring the "Maroni perspective," which has one big hole in it. Batman states in panel one that "From the outset, the killings have always favored Maroni." But we realize that the last two hits really hurt Maroni, killing around fifteen of his men.
Page 9--Maroni would've had to have moved very fast to make it out onto the deck to kill Alberto. Not impossible, but improbable.
Page 10--
I love the way Sofia is holding Carmine back in panel two. It definitely makes it seem as if Carmine really does think Alberto is dead, but I'm not sure.
Panel four shows the Riddler apologizing for his disrespect, saying "I only meant that Alberto WASN'T in the family business." You can take that emphasis one of two ways. Either he's saying simply that Alberto wasn't involved, or he could be saying that Alberto WAS not involved (past tense) but he IS involved now.
Page 11--Here we have Riddler delving into the "Carla perspective," which is the weakest. Why did Carla kill her own son? To protect herself, says Riddler, but from what?
Page 13--The detail about the lightbulb in panel two is interesting. Why would Holiday unscrew the lightbulb anyway? And it's intriguing that the Riddler factors it into his theory here. Apparently the Roman told the Riddler about this detail. How did he find out Holiday did it and that it wasn't just burnt out? (From Alberto, maybe?) And do the police know about this detail? If they overlooked the .22 for this murder, it would be possible that they wouldn't know about a lightbulb going out being the work of Holiday.
Page 14--
Wonder what's on those slides Batman looking at in panel one.
Julian Day? Why would Julian Day be the killer? What's the motive? It doesn't fit with his past MO, which involved robbery mostly but not murder.
Page 15--As we get Harvey's POV in the panels on the right, we have panels on the left, as remembered by Batman, that include comments Harvey has made that might be construed as his involvement in the killings. These panels have appeared in issues before, which are:
panel one=issue one, page 40, panel 1
panel three=issue two, page 18, panel 3
panel five=issue four, page 15, panel 2
Please note, however, that these panels are not mere copies of previous artwork. Look at the tie Harvey wears in issue one and as it is reprinted here. They are slightly different, meaning Tim must have looked at his own artwork and redrew a spot-on replica.
Page 16--Batman discusses the "opportunity" Harvey had for each of the murders, but opportunity does not a killer make. Motive and means are as important, and Batman doesn't even start to explore those.
Page 18--
Just as Batman is saying Harvey's name suspiciously in the Batcave on page seventeen, Harvey is saying Bruce Wayne's name suspiciously in panel two of this page. Nice segue.
Jim says to Harvey in panel three, "You're sure you want to go ahead on this?" Apparently he's not, since it takes him a month to act.
Page 19, panel one--Sofia has switched sides. She's standing behind Carmine's right shoulder now as opposed to his left in past panels. The lamp was also on the right side of the desk before and now it's on the left. The clues are still gone but now the TV from issue one is back.
Page 20--
The Riddler's guess here seems to be wrong, but is it? "There's no riddle he can't solve," as Carmine told us on the last panel. And if Alberto is acting as an agent of Carmine as he commits the murders, then the Riddler is right.
Carmine's comment to Sofia in the last panel to "come right back" leads me to believe that she unlike Carmine does not know that Alberto is Holiday and alive. The Roman does, as well as knowing that Alberto is in the alley, and he wants to keep the knowledge from her.
Page 22--
The umbrella clue is for April Showers.
"When does a killer not kill?" asks the Riddler after his life is spared. The answer: when it's in his best interest, when the victim has information he wants spread onto the street (that Carmine is looking into the killings) but is too scared to tell anyone who the killer is.
(This issue was hard to summarize since there really wasn't much of a plot. Sorry if the information below isn't too helpful.)
