Match the item on the left to a numbered item on the right to complete each sentence. 1) 2) The difference between a company's assets and its 3) 4) Resources that a company owns or controls are called 1. liabilities 2. return on assets equity is equal to Net income divided by average assets is known 3. assets Sales, cost of goods sold and all other expenses are necessary to calculate a company's 4. income statement 5. net income