- Please put the following income statement and balance sheet terms in the proper order:
Taxes, Interest, gross profit, selling, general and administrative expenses, sales, depreciation, net income, the cost of goods sold, EBITDA.
- Please put the following balance sheet terms in the appropriate category as either short-term assets, long-term assets, short-term liabilities, long-term liabilities, and/or owner’s equity:
Cash, accounts payable, accruals, property, plant and equipment, inventory, accounts receivables, paid-in capital, retained earnings, notes payable, mortgage, accounts payable.
- In terms of McGladrey and Pullen’s “Reading & understanding financial statements,” explain the balance sheet equation in 300 words or less.