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Financial Statements for a Sole Proprietorship

Horizontales
_______indicates a percentage of net sales represents profit.
The information needed to prepare the income statement comes from the income statement section of the
The balance sheet reports financial information on a specific
_________summarizes the changes resulting from business transactions that have occurred during an accounting period.
The _____ is the completed as the supporting document for the balance sheet.
Verticales
Net income or net _________. is reported in the income statement.
The ____reports a business' net income or net loss over an entire accounting period.
One source of info. for completing the balance sheet is the balance sheet section of the _____ _____.
________is a comparison of two items on a financial statement, resulting in a percentage that is sued to evaluate the relationship between two items.
In the ____________, the classifications of the balance sheet accounts are shown one under the other.
A(n) ____is the financial statement that reports the final balances of all asset, liability, and owner's equity accounts at the end of an accounting period.