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Nuco’s Financial Statements

Nuco’s Financial Statements. Income Statement. The income summary shows the revenue and expenses for a specific period of time. NuCo’s time period ends December 31, 2001. The most important item you gain from the income statement is net income.

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Nuco’s Financial Statements

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  1. Nuco’s Financial Statements ACC1001-SECTION 100

  2. Income Statement • The income summary shows the revenue and expenses for a specific period of time. • NuCo’s time period ends December 31, 2001. • The most important item you gain from the income statement is net income. • Net income is the excess of revenue over expenses and will increase owner’s equity. ACC1001-SECTION 100

  3. Balance Sheet • A list of the assets, liabilites, and owner’s equity as of a specific date. • Normally the assets section presents assets in the order they will converted to cash. • http://www.accountingweb.co.uk/ • http://www.nysscpa.org/terminologyguide/main.htm ACC1001-SECTION 100

  4. Ratios • NuCo’s ratios will give you a quick and easy way to see if the company is doing well. • Would you want to invest in a company like NuCO? • All ratios give you a comprehensive understanding of what the company is doing. ACC1001-SECTION 100

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