Please help me solve the above problems and give me the process of solving them. Thank you
ABbCCDdE AaBbCcDdEr AaBbCcDo AaBbCcD Normal No Spacing Heading 1 Heading A. Income Statement B. Balance sheet C. Cash flow statement D. Net worth statement 6) A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time is a/an (3 points) A. Income Statement B. Balance sheet C. Cash Flow Statement D. Net worth statement 7) A financial statement that includes only inflows and outflows of cash and cash equivalents and excludes transactions that do not directly affect cash receipts and payments is a (3 points) A. Income Statement B. Balance sheet C. Cash Flow Statement D. None of the above 8) The Income Statement serves which of the following functions (circle all that apply) (8 points) A. Provides investors insight to the company's ability to pay bills in the short term B. Serves as a "report card" to measure a company's financial performance over a period of time. C. Can be used to help monitor and control a companies costs and key drivers of profit D. Shows how much the company is worth. 9) Which of the following expenses would not be completely expensed on the current year income statement, rather would be capitalized and depreciated and thereby expensed over time. (circle all that apply) (3 points) A. Hired a new employee ... salary expense B. Spent $100,000 to expand brewing capacity at Pete's brew C. The power bill D. Spent $8000 to sponsor a beer festival and sold $20,000 in beer. 10) A P&L statement and/or calculation can be used to report financial performance in3) Pete's brew participated in a beer festival in Brooklyn. (4 points) Festival participation fee $5000 Cost of staff and booth for the weekend $3000 Price of a pint of beer $5.00 Cost of a pint (cost of goods) $1.00 What is the gross profit of a glass of beer? How many pints does Pete needs to sell to breakeven