C preparing the store's balance sheet and other major financial Dpresenting the trial balance to the company owners. custom-order tool and die work. 4. A computerized accounting system would help Johnson Products by A, making key accounting and financial decisions Johnson Products is a small manufacturing firm specializing in c 8. helping management identify cash flow and other financial difficulties more quickly C. eliminating the need to prepare financial statements and other reports D. eliminating the need to perform the three middle steps of the accounting cycle 5. specific point in time. A. income statement B. balance sheet is an accounting statement that reports the financial condition of a firm at a C. statement of cash flows D. trial balance 6. The balance sheet is composed of the following types of accounts: A. revenue, expenses, and earnings B. operating expenses, cash flow, and capital expenditures. C. capital, cost, and valuation. D. assets, liabilities, and owners' equity The fundamental accounting equation states: Assets A. liabilities minus owners' equity B. liabilities plus receivables C. payables plus cash equivalents D. liabilities plus owners' equity