Income Statement Research Papers Samples For Students

Accounting and Recording

Summary
Financial accounting and reporting is a mode of communication used by different companies to communicate with the investors. This study uses two modes of accounting and reporting recognized by the international accounting and reporting body. The two methods used in this study are the Handelsgesetzbuch, HGB, which are the German commercial code and the US GAAP. The two multinational firms used in this study are from German and USA but operate in the global market. The German firm has its headquarters in Germany but operates in the international market while the USA firm also has it’s headquarter ...

Abstract

The paper gives an account of the importance of accounting. It provides information about the increasing importance of accounting in the recent years and the entities that pay attention to the information provided by the accounting system. The paper also describes about how each party makes use of accounting and its role in the process of decision-making. It also explains the need for recording and analyzing the transactions through the accounting system. Most importantly, the paper asserts the importance of accounting in assessing the performance of firms. The paper also provides a great deal of information about the role of ...

Analysis of Financial Statements of Goldman Sachs

Introduction
A world renowned company, Goldman Sachs is an American Multinational Corporation that deals with the institutional clients offering investment banking, investment management and other related financial services. The following report will analyze some of the crucial items of the financial statements of Goldman Sachs including Earning per Share, Cash Flow Statement, Tax Deferrals, Share based compensation, Employee Compensation Plans. We are sure that by the end of this report, we will be able to have a comprehensive overview of the company’s financial statements.

Amount Disclosed
Footnote Information-Deferred Taxes
Note 24 of the Annual Report is ...

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ISBN ...

Introduction to General Electric Company

The General Electric Company is a multinational corporation with operations across more than 170 countries (Welch & Byrne, 2001). The company deals in the design and production of various electric equipment including motors, engines, and power generators among other products. GE has been in operation for more than a century and over the years, the MNC has accumulated experience in power generation, lighting, and other activities and this makes it one of the greatest industrial companies across the globe. In its 2015 release of financial report, the company branded itself as a digital industrial company pointing to the increased innovation ...

INTRODUCTION

With the intent to evaluate the financial
As an established manufacturer of a line of fully-integrated wireless communication products serving an international market, New Technology Incorporated (NTI) is looking to start a partnership with outside entities for a long-term software security venture. After a competitive technical product evaluation, it has been determined that MicroStrategy, Inc. (MicroStrategy), a Virginia based corporation, represents the best potential candidate for this venture. This analysis will review the income statement trends, balance sheet trends, cash flow trends, and three key financial ratio trends for the years of 2013 – 2015 to determine if this merger ...

Abstract

Performing the comprehensive analysis of the financial situation of AMC Entertainments, we have gained an optimistic review for the entity. Strong profitability driven by revenue growth and controlled cost structure will enlarge the podium of success for the company. On the other hand, high amount of operating cash flow growth, and a prudent spending on capital assets and dividend payment, indicates a sustainable approach of the company for maintaining balance throughout. Similarly, a sustainable proportion of debt-equity is apt according to the recent financial strength of the company and do not spark any source of concern.
However, two issues ...

Income Statement

The income statement reports on the primary yardstick of business performance, net income. While the common term used is profit, accountants normally prefer to use the term net income. Additionally, it also shows the expenses and costs incurred by the company to earn the incomes over the same period. However, the bottom line of the statement is the net income which indicates profitability of the company in terms of investments.

Balance Sheet

A balance sheet is essentially a detailed report on a company’s liabilities, assets and shareholders equity. Assets can be raw materials for making final products to be sold or final ...

According to the recent research, it is evident at Apple Inc. has successfully integrated the use of mathematics in the formulation of its financial analysis and records. The company closed its financial report with a stock of 40% as at March 2015. In addition, the market value is reported to be approximately $200 billion as compared to the initial financial year. In other terms, mathematical concept plays a major role in facilitating the financial reporting for the company.
The balance and the income statement of the company borrows the ideas or concept of mathematics. It means that most of the ...

Conventional versus Islamic

Y M

Fin399-P

Dr. N E
Abstract:
The current paper relates financial analysis of commercial and Islamic banks in UAE. The aim of this paper is to evaluate financial performance of commercial and Islamic banks in UAE and make appropriate conclusions regarding comparative advantages and disadvantages of the two groups of the banks. The evaluation between commercial and Islamic banks was carried out with the help of financial analysis. Analysis of financial ratios was used as the main technique of financial analysis in this paper. There were four groups of financial ratios analyzed, namely: liquidity ratios, solvency ratios, ...

Hewlett Packard Company (HP) is an American multinational corporation founded by William Hewlett and Dave Packard in 1939 and incorporated in 1947 in California. The company is a provider of computer hardware, soft ware and IT services. Its main products include HP desktops and laptops, HP printers, HP servers and HP enterprise software. It also provides technology consultancy and outsourcing to businesses, states and organizations. Thus, the company falls under Information and Communication Industry. It main competitors in this industry include International Business Machine Corporation (IBM), Dell Corporation, Cisco Systems, Apple Corporation, Toshiba Corporation, Xerox Corporation and NCR Corporation.
...

Starbucks is an American worldwide global coffee company with its headquarters in Seattle, in Washington DC. As a global company, Starbucks records adversely high financial performance. This is based on the fame of the coffee commodities that the company manufactures in the world. As a company having adverse stakeholders, financial analysis for the company is extremely essential. Therefore, Starbucks conducts systematic audit of its financial performance.

The company that has been entrusted the analysis for Starbuck’s financial position and performance is Deloitte and Touche Tohmatsu Limited. This is a firm that offers audit services to companies with exclusive experience on handling ...

The four main types of financial statements used by businesses include the cash flow statement, income statement, balance sheet and the statement of owners. The cash flow statement is used to assess the cash position of the business and gives vital insights regarding the cash inflows and the cash outflows. The cash flow statement is divided into 3 parts; operating, investing and financing. This statement gives an overview of the firm’s liquidity and it allows the investors of the company to assess the performance of the company even better.
The operating cash flow shows all the cash ...

Task

Introduction
Accounting is a very important subject both to the followers of the profession and also to all institutions that carry on business. For any financial statements to make sense they must be prepared in a standardized manner, allowing for quick comparison between the financials of a company in different periods, the company and other players in the industry, a company in different countries etc. This requires the adoption of standards that will allow for this to be possible.
The International Accounting Standards Board prepares and issues the International Financial Reporting Standards (IFRS) that have been widely adopted by accountants the ...

Introduction

The paper is being written with the objective of conducting the financial analysis of Amazon Inc. of past three years using the tool of ratio analysis. For this very purpose, the participants will be using the financial statements of the company for the year 2011, 2012 and 2013, while the report will be concluded with the critical analysis of the trend in the ratios observed. They are sure that by the end of this report, we will be having comprehensive overview of the financial performance of the company. Today it is the largest internet based company in the United ...

- Apple’s success
Apple has a market capitalization of $ 557 million dollars. Apple is scheduled to make an announcement on their 4th quarter earnings and considering the hype surrounding the company, the report is expected to be a huge success. The California based company earlier on released their 3rd quarter financial results for the 2013 financial year. In the article, Apple earned quarterly revenue of $ 35.3 billion and a net profit of $ 6.9 billion translating into an earnings of $ 7.47 per each diluted share of the business (Scott, 2013). In the same quarter last year, the firm made $ 35 billion ...

Abstract

Performing the analysis for this milestone within the purview of profitability and cash management efficiency using the traditional financial ratios and horizontal analysis, we have gathered a useful insight into the financial position of the company that confirms bullish run in the company.
We initiated the analysis with the calculation of profitability ratios and found that owing to increased revenue figures and most importantly,controlled cost structure for cost of goods sold and operating expenses, the company was able to generate higher operating and net profitability compared to the previous year. Moreover, during 2015, the company was also able ...

SUMMERY

INTRODUCTION
The manufacturing sector, production means making a product either by using a machine or hand or both. It’s a component of goods producing industry. Unlike trading or service businesses that buy products and sell at a higher price to make the profit, manufacturing instead make products that they finally sell. Manufacturing companies that produce and sell goods needs an accounting system that does not solely look at the accounting aspect only but also sale and purchase of the goods. By this, the accounting system for the manufacturing industry is more complex than the service sector does not ...

1) Introduction
The report is commissioned to evaluate the investment potential of leading American courier service company, FedEx Corporation. As part of this report, we will be discussing the trends in the financial statements of the company, which will be followed by a comprehensive ratio analysis section where we will be putting the financial figures of past two years under the microscope of financial ratios. In order to widen the scope of our analysis, we will also compare the trends in the financial ratios with that of two leading competitors of the company, United Parcel Services (UPS) and Deutsche ...

Accounting for asset, liabilities and equity

Referring to the notes to the financial statements, we found that the company prepares its consolidated financial statements, according to Generally Accepted Accounting Principle(GAAP), while the assets, liabilities and equity are measured on cost basis.

Inventory Valuation

Referring to the notes to the financial statements, we found that the company is using FIFO method to value its inventory. Following FIFO method for inventory valuation, leads to higher value of inventory and lower cost of goods sold(COGS), which leads to higher gross profit and tax bills for an entity. Important to note, GAAP allows the use of both FIFO and ...

Why Study Accounting?

People have varying reasons as to why they study accounting. According to Don Balla in the article “Top Five “Top Five Lists” of reasons to Study Accounting” (Balla, 2014), these reasons are:

What is accounting?

Accounting has different varying definitions. However, the familiar explanation is that it is the technique of recording financial transactions. According to Harold Averkamp in his article, “what is accounting”, it involves; storing of financial transactions, andsorting out these transactions, retrieving them. Summarizing the transactions, as well as presenting the data obtained in different reports and analysis is also a process of accounting. Accounting has various parts i.e. financial ...

As you all may have known by known, our company (M Inc.) has been locked in a long-standing litigation over a specific patent infringement matter. In the end, after an initial hearing and an appeal hearing at the Court of Appeals, the decision turned in favor of M Inc. Nonetheless, even though the amount that M did not lose the amount it was set to lose if the decision had gone in favor of W INc., this trial still cost the company considerable amount. But then again, regardless of whether the expenditures related to the trial are considerable or not, it ...

Introduction

Financial statements are the end product of an organization, in which information of the financials and non financial based things would have been recorded accordingly. Succinctly, it could be said that a financial report is basically a piece of document, in which information pertains to the total expenses and revenues should be recorded for different users of the company. There are certain users of the financial statement, which deems extremely important for the organizations.
Some of the major users of the financial statement of a company are the investors, bank’s officials, governmental officials and other important things. Generally, there are ...

After the obtaining the net income, the consequent deductions and additions are made. These deductions and additions are non-cash expense and revenue items.
The income statement in this case can show whether the company is making losses or profits. Here the company is making profits in the given time period, one year- the year 2012.
In the income statement, all the revenues are listed, for example sales, also all the expenses within the said time period is depicted and subtracted from the Net sales. In this case there were no income taxes. The result gives the net ...

Apple Inc.

Apple Inc. is a manufacturing concern in the electronic industry. Apple Inc has its headquarters in the United States of America. It produces a range of electronic products ranging from hardware products like the Mac personal computers, iPads, iPods and iPhones. Its software products in the market include the following: the OS X and the iOS operating systems and iTunes music browser, iWork and iLife creativity suites. The company operations span the entire globe. Apple Inc. had three hundred and sixty four retail outlets as at July 2011. In addition, Apple Inc. runs a successful online retail services that operate in the entire ...

Introduction

Multinational corporations across the world usually consolidate and present their operational results in financial and non-financial terms at the end of every term, usually a year. The financial aspect of reporting is supposed to comply with a clearly prescribed set of regulatory standards. The adoption of the International Financial Reporting Standards and GAAPs was meant to ensure that all compliant firms across the world produce financial statements that conform to the industry specific reporting frameworks and thus achieve a degree of uniformity in reporting. Different firms in operating in multiple locations operate under the strict guidelines of the specific ...

Financial ratios are an important indicator regarding the financial health of a firm. They can indicate the profitability, liquidity as well as solvency for a company. This is the reason why it finds different kind of audience and in a large scale.
The major groups which use financial ratios are the company management, the Board of Directors, the shareholders, market participants at large, rating and research agencies, and also to by regulators and auditors (Macs Accounting Dictionary).
The management of a firm are concerned about specific ratios which explain the operating and financial performance of a firm for a ...

About the paper

The paper is commissioned to conduct financial analysis of Jaedan Industry. As part of this analysis, we will be calculating the free cash flow of the firm for the year 2010. In addition to this, we will also run the financial figures for the year 2009 and 2010 under the microscope of financial ratios to unearth the strengths and weaknesses in the firm’s organizational architecture.

Income Statement:

Balance Sheet
Cash Flow Statement
Calculating Jaedan’s Free Cash Flow
In order to calculate the free cash flow of the firm, we will be using the excerpts from the ...

IASB Discussion Paper for A New Conceptual Framework (July, 2013): A Review

Introduction
In July, 2013, International Accounting Standards Board (IASB) released a discussion paper “A Review of the Conceptual Framework for Financial Reporting.” In 2011, IASB published an agenda discussion, and it received many feedbacks on the Conceptual Framework project (IFRS 2013). Based on the constituent feedback, IASB reinstated the project. The idea behind the Discussion Paper is to take views and comments into consideration while preparing the future exposure draft and doing the revision of the Conceptual Framework. The primary focus for IASB is to get a review on the areas that are known to have created application issues. Furthermore, ...

Abstract

This research paper was had one objective: to investigate the circumstances that saw the Kuwait Gulf Bank survive a financial crisis. Kuwait Gulf Bank is one of the largest financial institutions in Kuwait and, therefore, one of Kuwait’s major lenders. Before the financial crisis, the Bank had been very successful in its operations. It first became operational in 1961 after having been established in Fahad al-Sahem Street the previous year. Its headquarters were, however, later moved to Abdulla al-Sahem Street three years later. In the years following that, it has continued to grow and has been able to finance ...

Meaning, Completion and Implementation of the Accounting convergence

IFRS is the framework of accounting employed by economic leaders globally like Japan, Canada and European Union among others. This accounting framework is founded on the reliability, comparability and understandability tenets. It employs the International Accounting Standards (IAS) and has over time gathered, built and incorporated accounting principles and ideas that are globally used (Saudagaran, 2009).
The U.S. GAAP framework is a conglomeration of rules used to demonstrate how to account for transactions in an appropriate manner. This accounting approach presents the transactions with full disclosure, consistency and reliability. The level of clarity makes it easier for even for ...

The advantages and disadvantages of the four different forms of business organization, when starting a business, there are several issues to consider as to the kind of business one aspires to start. The kind of business that someone can start varies in structure and has a big bearing on the operation of the business. There are other implications that vary from taxation to legal implication and accounting processes. Each of these businesses has its own advantages and disadvantages.

Sole proprietorship

This is most common and simplest form of business to start. This is because an individual can easily start, own and manage a business, ...

Finance

About the report
The report is commissioned to propose a sales pitch for Nike Inc. to a group of investors who are looking for a company that is poised for growth on a fundamental basis and suits the long-term investment horizon. The recommendation will be based solely on the company’s financial and recommendation of the market analyst about the company.

About the company

Founded in the year 1964 as Blue Ribbon Sports Inc., Nike Inc. design,develop and market sports apparel and athletic footwear. The company leads the industry with sales volume above $30 billion and market share at 21.6%, followed ...

The Coca-Cola Company

The Coca-Cola Company is the largest leading marketer and owner of non-alcoholic beverage brands, and the largest distributor, manufacturer, and marketer of syrups and concentrates used in the production of non-alcoholic beverages. The firm owns or license and market 500 or more non-alcoholic beverage brands, majorly sparkling beverages but also several still beverages such as enhance waters, waters, juice and juice drinks, energy and sports drinks, and ready-to-drink coffees and teas. Finished beverage products that portray the companies mark, sold in the United States from 1886, are currently sold in more than 200 nations. Coca-Cola Company markets and owns ...

There is a considerable and sizeable population of small business in the US economy. Statistically speaking there are over 28 million small business that occurs with small business specifically indicating businesses with fewer than 500 employees. Over 22, million individuals are self-employed without any additional payrolls or having employed other persons. Of the working population, a considerable percentage of over 50% that translates to 120 million individuals work in the small business (US statistics and data, 2016). Small business on average have modest turnovers that attract income taxes on the cash generated. Business entities are relevant in the generation ...

Introduction

The paper is commissioned to perform financial analysis for Nike Inc. As part of this analysis, we will extensively discuss the current position of the company in the industry and how well it is forecasted to survive in the future amid the ongoing developments in the industry. However, the main focus of this paper will be to unearth the financial standing of the company over the recent past two years using the tool of financial ratios. In order to incorporate cross-section analysis in our analysis, we will also compare the ratio multiples with the competitor firm, Under Armour.

About the company

Founded ...

Cash Flow Statement

Cash Flow Trends
While the income statement and balance sheet of the entity provided useful insights into the financial position of the company, however, since these financial statements are prepared on the accrual basis, we also focused on unearthing the trends in the cash flow statement as the same is prepared on the cash basis and provides a true picture of the company’s financial position. Discussed below are the trends related to the three sections of the cash flow statement of the company:
-Cash Flow from Operations(CFO)
Analyzing the CFO amount over the past three years, we ...

Over the last two decades, corporate social responsibility has gained deep interest from accountants and auditors. It happens because substantial amounts of financial resources are invested in corporate social responsibility; yet there are not explicit accounting policies and standards to report on corporate social responsibility financials and activities (The Institute of Internal Auditors, 2016). Owing to this, there has been varied views and discourses on the conduct of corporate social reporting with many commentators focusing majorly on the triple bottom line reporting as a prelude to corporate social reporting. The current paper presents a detailed review of the ongoing ...

Introduction

The U.S. GAAP is a set of accounting procedures, standards, and principles, which corporations make use of when compiling their financial statements. Ideally, as a set of accounting standards and rules for reporting the financial statements, the GAAP ensures that the entire process is consistent from one corporation to another As well as transparent. All the publicly traded corporations in the U.S. must adhere to the GAAP requirements. While GAAP is used only in the United States, the IFRS are used in several countries. The IFRS are a collection of accounting standards established to offer an intercontinental framework for ...

ANALYSIS OF FORD AND GENERAL MOTORS

Introduction
General Motors underwent incorporation as a Delaware corporation in 2009.The company designs builds and sells automobiles and automobile parts world over. Also, the company through GM Financial provides automotive financing services.
Similarly, Ford Motor Company sells automobiles created and built by Henry Ford. The company, incorporated in Delaware in 1919, has its operations in six continents. Other than the production and sales of automobiles, it engages in the provision of financial services through Ford Motor Credit Company.

The process involves comparison of financial ratios of General Motors, Ford Company and the averages within the industry of operation. ...

Introduction

General Motors, popularly known as GM, is one the largest automobile companies in the world. Founded in 1908 in Flint, Michigan, the company is currently headquartered in Detroit, Michigan. GM occupied the number one position in the automobile industry for 77 consecutive years from 1931 to 2007 ("General Motors Company and Subsidiaries" 2015). Currently, it is the 3rd largest automaker in the world. In 2009, due to operational inefficiencies, slowness in the automobile market in the USA and huge overhead costs, GM filed bankruptcy. However, it restored its operation within a year and came back to profitability within 2 years. ...

Analysis of Company Audit-Risk Using Financial Analysis Tools

Audit risk occurs when an auditor makes an unqualified report of the company’s state of affairs. This results when he or she omits information that is significant in the procedure. An individual could make an error or fraud, thus causing the misstatement (DiGabriele, 2010). These threats are categorized into inherent, detection and control risks.
Financial analysis is the process of collecting, selecting, evaluating, and interpreting financial information of a company. This is significant in making investment and financial conclusions (Lanier & Saini, 2008). The analyzed data are used for internal activities of the organization such as appraising employee performance. ...

Executive Summary

The report is based on financial analysis of American Express for the purpose of providing recommendation to the investors over stock purchase. We initiated the analysis process by conducting the horizontal analysis of the financial statements of the company where we found that although the increase in revenue figures and operating income were less than that in year 2012, but the company was successful in increasing its net income by 19.57% this year courtesy lower interest expenses and other expenses.
As for the ratio analysis, we found that over the year, the company has improved profitability and better ...

About the company

Apple Inc. is an American multinational enterprise that design and develop consumer electronics, provides paid multimedia services and sells software. Headquartered in California, the company was founded in 1976. The consumer electronics of the company includes, IPhone. I pad, IPod and MacBook, while the paid multimedia service is known as ITunes. The company trades on NASDAQ under the ticker sign of ‘AAPL’.

Rational for selection

The core objective of this paper is to analyze the financial performance of Apple Inc. which has always been in good news for introducing innovative products into the market. Although the company had ruled the multimedia and ...

1 Introduction
This research paper discusses the history of financial auditing. Studies indicate that financial auditing has been evolving through many stages. In the 18th century, the practice of financial auditing was a traditional conformance to the role of auditing. It is clear that the auditing paradigm has been changing and will continue shifting into the future. Financial auditing originated from checking procedures in ancient civilizations such as Greece, Egypt and China. The industrial revolution period established the role of financial auditing. The Institute of Certified Public Accountants in America and The SEC (Securities Exchange Commission) play a critical role ...

Introduction

Inevitably, the existence of sustainability and efficacy depends upon numerous things in particular, and it is essential to stay in the same jurisdiction for a long span of time. There are certain aspects that deem significant from the viewpoint of companies and industries. Hundreds of thousands of companies are currently working in the world, and it is essential for these companies to comply with a legal requirement and operational laws in particular; otherwise it would become extremely difficult for them to stay in the business for a long span of time.
There are certain regulations that are important for an organization to opt ...

INCOME STATEMENT

Statement for the Year 2010:
Total Revenue: $1500,000,000
Operating Expenses and Depreciation: $500,000
Marketing Expenses: $25000
Net Income: $1499475000
Statement for the Year 2011:
Total Revenue: $1250,000,000
Operating Expenses and Depreciation: $300,000
Marketing Expenses: $25000

Net Income: $1249675000

Fall in Income from 2010 to 2011: $249800000
The detailed Income statement is as follows:
The statement clearly shows that there has been a fall in net income in the year 2011 from 2010 to the tune of $249,800,000 which represents a fall by 16.66%. But this does ...

(Name of Student)
Looking at the financial statements of a certain company is not enough. A positive net result in the income statement, or high amount of cash in the balance sheet are not enough in appreciating how well the business is doing. Significant result can best explain the overall status and performance of the company if further analysis is done. This is why ratio analysis is important in evaluating organization’s performance.

Universal Health Services, Inc’s Financial Ratio Analysis

The real essence of the figures indicated in the financial statements is most useful when compared with the company’s previous years report or with the ...

Financial Analysis (Competition Bikes Inc.)

Abstract
The purpose of this research will discuss about how the company should change its costing method to the activity-based on costing. It will contain the evaluation of cost-volume-profit regarding of the sales units and sales dollars for Carbon Lite and Titanium bikes. It will support what company management needed to increase the cost of direct materials by 10% and the fixed costs to the production facility. There also some factors that have been discussing in this research about the ways of the company how to innovate their product in increasing their cost profit. However, the quality the ...

Executive summary.

On 5th of December 2010 the American giant company in the field of pharmaceuticals announced its intention to acquire the Dutch company crucell which was in which it had already controlled 17.5% at a price of $2.3 billion, which would be a price of 24.75 Euros per share which was a purchase price 58% above the actual closing day price of the share ant thus crucell would have recorded a capital gain per share of 14.36 Euros. The company was to acquire 98.98 % of the issued crucell share. crucell was acquire to be acquired in multiple steps with the period of February 23 ...

Business finance and accounting is central to any business operation. While business finance provides the center for operation and management, accounting simply provides an historical background of the performance. Organizations rely on different methods of business finance and accounting to manage their business. However, most of financial reporting largely depends on the classification of the business as defined by its formation and its operations. The classification of business includes corporate, partnership, sole proprietorship, governmental organization or Nongovernmental organization commonly referred to as NGOs. All these operations rely on the balance sheet to indicate the present state of the organization ...

1. Introduction:

Wal-Mart Stores Inc is the largest Business Company in the world which has achieved leadership in the industry of retailing because of its efficiency in the supply chain management practices. Wal-Mart has set earnings and record sales for the fiscal year of 2008 (net sales of $374.5 billion), which was an increase of 8.6 percent over the previous year. Wal-Mart’s mission is saving its customers money in order to live better and thus it has created an impact on over 176 million customers in over 13 nations worldwide (Bianco, Zellner, 2003, p.100).

Wal-Mart, as a global business ...

Based on the company’s financial information provided, it is beyond any reasonable doubt that the company violates the solid accounting practices. The company’s accounting cycle runs for twelve months as indicated by the balance sheet, the cash flow statement and the Consolidated Statements of Income, which is typical of every company and every financial statement.
The horizontal income statement (Sheet 3) and the balance sheet (sheet 5) are prepared in accordance to the accounting cycle. However, the income statement is not highlighted for easier comprehension. In the statement, total costs and expenses are deducted from the ...