B. Suppose you are the co-owner and manager of a retail store that sells and repairs racing bicycles.

1. Provide one example of a financial accounting report that would be useful to you and your co-owner. Provide two examples of managerial accounting reports that would be useful to you as the manager.

2. Provide two examples of nonfinancial measures used by a pizza parlor that serves food in the restaurant and offers delivery services.

3. For each report listed in the following, indicate whether it relates to financial or managerial accounting. Clearly explain the reasoning behind your answer for each item.

a. Defective goods produced as a percentage of all goods produced

b. Income statement for the most current year, prepared in accordance with GAAP

c. Production department budget for the next quarter

d. Balance sheet at the end of the current year, prepared in accordance with GAAP