Canadian Law

1 . What information gets recorded on the income statement? (LO1)

2 . What information gets recorded on the statement of owner's equity? (LO2)

3 . What information gets recorded on the balance sheet? (LO3)

4 . What is a financial statement, and how do you prepare one? (LO1, LO2, LO3)

5 . Describe the information that the following financial statements can provide to a business owner and interested third parties or stakeholders: (LO1, LO2, LO3) a . income statement b . statement of owner's equity c . balance sheet