Following is the income statement and balance sheet of a company that just sold stock to the public for the first time.

The following terms are described under Objective 6 in this chapter. Find and list examples of each of these concepts in the financial statements above.
a. Measurement units
b. Historical costs
c. Accrual basis
d. Fiscal periods
e. Matched
f.Estimation

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Balance sheet at July 31, 2004 Income statement for July 2004 Cash Accounts receivable Inventory Buildings, net Total assets S 3,500 2,000 1,700 18,000 Sales revenue Cost of sales Gross profit Operating expenses: $5,000 1,000 $4,000 Wages Depreciation Interest S 500 400 200 Accounts payable Wages payable Common stock Retained earnings Total liabilities and equity $1,500 500 10,000 13,200 $25,200 Operating income Income taxes $2,900 1,015 $1,885 Net income