1. Examine the implications of TSA's bankruptcy and what impact it might have had on others in the sport industry. Take a close look at how TSA's bankruptcy specifically affected sports apparel companies such as Under Armour. Students should examine various online articles concerning TSA and Under Armour to learn more about the bankruptcy's impact. What should Under Armour have done to protect itself from financial circumstances out of its control? 2. Provide three specific examples of how stadium subsidies can positively influence a local community. 3. What variables will continue to drive up the market value of sports franchises? 4. What is the difference between accounting and finance? 5. Briefly explain the differences among a balance sheet, a cash flow statement, and an income statement. 6. Create a list of all your current assets and liabilities. Examine each asset and ask yourself if you are appropriately leveraging it. Can you find a way to reduce some of your liabilities? 7. What are the primary revenue sources for a nonprofit sports organization? 8. What are the differences between revenues at a Division I program and a Division III program? 9. Explain how free agency in professional sport has increased salary expenditures for professional sports teams.