Business financials are one of the most difficult parts in starting and sustaining a business. Each week, we'll focus on one type of financial statement. As we navigate creating our business plan, there are many resources I recommend. I think this is one of the best financial report resources ${?}^G.$ It provides explanations, graphics, templates, etc. Please take a look.

This week's focus is income statements

For this assignment and discussion, create a simple balance sheet and post it to the discussion. If there is any confusion or questions, post those in the chat. Ask each other questions. If there are some in the class that are quite familiar with any type of financial statement, please speak up and help! As always, follow the discussion post guidelines.

Please complete the following:

Answer these questions

What is the purpose of an income statement?

What are the components of an income statement

Create an income sheet with all of the necessary components.