What is the difference between gross profit and net income?

If a classified balance sheet has total assets of $$900,000$ and total owner's equity of $$350,000,$ what must the company's total liabilities be$?$

What key element of the income statement flows through to the balance sheet?

What key columns are commonly found on the statement of owner's equity?

S$.$ Ted's firm reported net income for the current period of $$65,750.$ Is it safe to assume that because Ted's firm reported such a large net income, it has plenty of cash to fund its operations? Why or why not?

What useful insights does free cash flow $($FCF$)$ provide in financial analysis?

Describe how common$-$size statements are useful.

What is the difference between a calendar year and a fiscal year? Please include references