1. What are the names of the 2 broad categories of assets?

2. What are the names of the 2 broad categories of liabilities?

3. what is the very first cost when subtract from total revenue on the income statement?

a. Income Tax Expense

b. Cost of Goods Sold

c. Salaries Expense

d. Interest Payable

4. Which financial statement does Brian Feroldi say is an "opinion" of if a company is profitable and which financial statement is a "fact"?