Introduction:
Income statement gives a picture of the financial performance of the company during the year and it forms a part of financial statements.
Owner's equity is a statement which provides the owner's capital balance by determining the amount of investment, income transferred, and drawings.
The balance sheet is the financial statement which helps the investors to know overall picture of the company showing summarized assets, liabilities, and equity held by shareholders during the year.
To Prepare:
Financial statement i.e. income statement, statement of owner's equity and balance sheet as of December, 31.
Introduction:
Profit Margin is the ratio which is a useful measure to calculate the company's operating results. In other words, it is a ratio of its net income to its net sales.
To calculate:
The profit margin for the year.
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FUND. ACCOUNTING PRINCIPLES >CUSTOM<
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