1.Examine debt and its sources of current debt (or short-term liabilities).

2.Analyze the preparing of the statement of cash flows.

3.Assess debt ratio.

4.Describe the three different profit margins.

5.Examine the distinction between gross fixed assets and net fixed assets and how depreciation expense in the income statement relates to accumulated depreciation in the balance sheet. Assume a truck is bought at $40,000 and is evenly depreciated over a 4-year life.

6.Summarize a transactions balance.

7.Analyze the MACRS recovery period.

8.Explain the value of assets on a balance sheet.

9.Assess how the gross profit and expenses are calculated for the income statement.