You've learned about the three essential financial statements. Now let's practice reading them like a pro, spotting important patterns, and understanding what they really tell you about business health.
Think of this as developing your financial X-ray vision.
Engagement Message
Which financial statement do you find most intimidating to read?
Type
Swipe Left or Right
Practice Question
Match each financial statement with the key question it answers:
Labels
- Left Label: Income Statement
- Right Label: Balance Sheet
Left Label Items
- Am I making money this period?
- Are my revenues higher than my expenses?
- Is my business model profitable?
- How much profit did I generate?
Right Label Items
- What do I own and what do I owe?
- What's my financial position right now?
- How much equity do I have in the business?
- What are my assets and liabilities?
Type
Fill In The Blanks
Markdown With Blanks
Fill in the basic Income Statement structure:
[[blank:Revenue]] - [[blank:Expenses]] = Net Income
Suggested Answers
- Revenue
- Expenses
- Assets
- Liabilities
- Cash
- Equity
Type
Multiple Choice
Practice Question
A landscaping business shows: Revenue 2,000, Fuel 3,000, Insurance $500. What's their Net Income?
