Exercise 1-2 Investment andfinancing with their performance in the balance sheet and the profit and loss account Go back to Section 1.2, where the foundation of the car sharing company is described.

a) Develop the opening balance sheet for the car sharing company.

b) Suppose the purchase of a vehicle costing € 12,000 with an anticipated average life of 3 years. The whole payment is done in one step through the bank account. How does the opening balance sheet change?

c) After the first business year the first income for hiring the vehicle comes to the company's bank account: € 5,500. What is the balance sheet like after this first business year? You should also take into consideration that interest on liabilities has to be paid. To get a good overview perform the profit and loss account as well.

d) Money at the amount of the profit earned for the year is used to pay back loans. Please construct the respective balance sheet.