2. Financial Statements – Statement of Financial Position (Balance Sheet) and Income Statement



Exercise 1

Name the three key financial statements and briefly describe each.

Exercise 2

Analyse a sample balance sheet and income statement of a company. What conclusions can be drawn
about the financial situation?

Exercise 3

A company reported the following data for the year:
  * Assets: $1,200,000
  * Liabilities: $500,000

Calculate the company's equity.

Exercise 4

Company XYZ started operations with an initial investment of $1,000,000. During the first year, it
had revenue of $600,000 and expenses of $400,000. What is the net income, and how does equity
change?

Exercise 5

A company reported the following data for the year:
  * Assets: $1,200,000
  * Liabilities: $500,000

Calculate the company's equity.

Exercise 6

Company XYZ started operations with an initial investment of $1,000,000. During the first year, it
had revenue of $600,000 and expenses of $400,000. What is the net income, and how does equity
change?

Exercise 7

A company had revenue of $3,000,000 and expenses of $2,200,000 in 2023. Calculate the net profit.

Exercise 8

A company has the following financial data:
  * Assets: $2,500,000
  * Liabilities: $1,500,000

What is the equity?