Across 1. A business organized as a separate legal entity owned by stockholders. 3. Amounts owed to creditors in the form of debts and other obligations. 5. (3 words) Assets = Liabilities + Stockholders' Equity. 6. (2 words) A report prepared by corporate management that presents financial information including financial statements, a management discussion and analysis section, notes, and an independent auditor's report. 7. The increase in assets or decrease in liabilities resulting from the sale of goods or the performance of services in the normal course of business. 8. The information system that identifies, records, and communicates the economic events of an organization to interested users. 9. The cost of assets consumed or services used in the process of generating revenues. 9 Down 2. (2 words) The amount of net income retained in the corporation. 4. (2 words) The amount by which revenues exceed expenses