REQUIRED:

$-$ Do you believe that Christy$$s concept of $$earnings$$ is a good way to measure how much she earned each day from her lemonade business? Why or why not?

$-$ What does it mean to $$earn$$ income? Can you think of a better way to measure the income from Christy$$s Lemonade Stand?

$-$ Compute Christie$$s Lemonade Stand$$s Accrual Accounting income $($use Template provided$)$

$-$ Create the income statement for the period ended on Saturday $($end of the first week$)-$ use Template provided

$-$ Create the balance sheet as of Saturday $($last day of first week$)-$ Use Template provided

$-$ Create the statement of cash flows for the period ended on Sunday $($end of first weekend$)-$ use Template provided