To gain more familiarity with two of the key financial documents, please prepare a short speadsheet (in Excel) with the key headings of a balance sheet and income statement for a public company. You can search for public companies that you know or look for them on any of the three exchanges (Amex, NASDAQ or NYSE) and pull their quarter or annual financials. Remember that Amex, NASDAQ and NYSE are not companies listed on the exchanges (where stocks are bought and sold) but the exchanges themselves (I have had students become confused and use those as companies in the past). You can go to Yahoo Finance and pick a company to easily find these figures for a company. It just has to be a public company.
On the income statement you need to list at least: Revenue, cost of goods, gross margin/profit, expenses, EBITA and net margin/profit. For the balance sheet you should list short-term and long-term assets, total assets, short-term and long-term liabilities, total liabilities and Shareholder’s Equity.
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