Chapter 1 Financial Statements
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Overview of financial statements
Transcript of Chapter 1 Financial Statements
FINANCIAL STATEMENTS
BALANCE SHEET
Assetso Casho Accounts receivableo Inventorieso Property, plant and equipment
Liabilitieso Accounts payableo Notes payable to banks
Stockholder’s equityo Common stocko Retained earnings
INCOME STATEMENT
Revenueso Sales revenue
Expenseso Cost of goods soldo Selling, general and administrativeo Interest expenseo Income tax expense
Net Income
STATEMENT OF STOCKHOLDER’S EQUITY
Net income Dividends Common stock Retained earnings
STATEMENT OF CASH FLOWS
CFO CFI CFF Net increase/decrease in cash Cash balance (previous) Cash balance (new)