NO PLAGIARISM

1. In your own words, provide a 3-5 sentence definition of an income statement: what it is and what it is used for.
2. In your own words, explain how to prepare an income statement.
3. Create an example income statement. This income statement must be your ORIGINAL work. You may not use an income statement from your textbook or any other source. The income statement you create will be for the fictional company for which this training manual is being created. Please provide the name for this fictional company and put it at the top of the income statement.
4. How should an income statement be analyzed? In other words, what information does it give us about the companys financial situation? Use the example income statement you created to explain how this should be done.