1. "Companys net income appears directly on the income statement and the owners equity statements, and it is included indirectly in the companys balance sheet". Do you agree? Explain how the net income is shown in Balance Sheet.

2. Calculate the "Net Profit" of the company for the years 2021 & 2022 by using the "Simple Income Statement" format which you learned in class?

3. What is the accounting period of the company?

4. What is the method of depreciation used by the company? (refer to the notes to accounts)