Work day!

We had a lot of students changing schedules last week. As a consequence, many of you missed assignments. To give you an opportunity to get your assignments turned in, I'm going to give you some extra time to work. We'll have a shortened class on Monday. When you come in, pick up a textbook and read section 1.1. Here are some terms that you'll need to understand for the test. (I did mention that you'd be tested didn't I?). Create a study sheet by looking up the definitions in the glossary of the textbook.

Balance Sheet - Know the elements of a balance sheet and how it's set up
Income Statement - Know the elements of an income statement and how it's set up

Know where to find each of these on an Income Statement or Balance Sheet:
Assets
Liabilities
Equity
Revenue (Sales)
Expenses

Industrial Business
Commercial Business
Industry
Business

*Profit - Revenue-Expenses
*Book Value - Total Assets - Total Liabilities = Book Value
*Earnings Per Share - Yearly Earnings - Dividends / Total Shares of Stock
*Market Capitalization - Value of each share of stock x total number of shares


(*- Know how to calculate these items)