Section 1 - Instruction

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?

Section 2 - Practice

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?
Section 3 - Practice

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
Section 4 - Practice

Type

Multiple Choice

Practice Question

A landscaping business shows: Revenue 2,000, Fuel 3,000, Insurance $500. What's their Net Income?

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