c. What does the accounting identi entity tell us about a business's equity? 4.3. a. What are assets? b. What are the three major categories of assets? 4.4. a. What makes an asset a current asset? b. Provide some examples of current assets. c. What is net working capital, and what does it measure? 4.5. a. On the balance sheet, what is the difference between long-term investments and property and equipment? b. What is the difference between gross fixed assets and net fixed 4. assets? c. How does depreciation expense on the income statement relate to accumulated depreciation on the balance sheet? 4.6, a. What is the difference between liabilities and equity? b. What makes a liability a current liability? c. Provide some examples of current liabilities. d. What is the difference between long-term debt and notes payable: 4.7. a. Explain the difference between the equity section of a not-for- profit business and an investor-owned business. b. What is the relationship between net income on the income statement and the equity section on a balance sheet? 4.8. What is fund accounting, and why is it important to some healthcare providers? 4.9. a. What is the statement of cash flows, and how does it differ from the income statement? b. What are the three major sections of the statement of cash flows. 4.4. c. What is the bottom line of the statement of cash flows, and how important is it