Enrichment:
Part A.

1. Search example of financial statements: a. Profit/loss statement -
b. Balance sheet -
c. Cash flow statement -

2. Interpret the data reflected in the above financial statements. Is the business in good financial standing? Use the given space below for your findings.

PLEASE ANSWER IT CORRECTLY I NEED IT RIGHT NOW

Short Explanation: A balance sheet is also called a state ment or financial position. however the popular or widely used term that is being required by accounting standards is balance sheet.

long explanation: A balance sheet. (at any given point in time) shows that.

1. assets - include economic resources owned and/or controlled by the enter prise such as a cash receivables, inventories, land, building, and equipment.

2. Liabilities - enterprise's obligations to pay

3. Equilty / capital - equilty of the owners over the assets.

if you will analyse the information provided by the balance sheet you will know if the enterprise is liquid/solvent(with enough money to pay its obligations) or leading to bankruptcy, heavily indebted or not, or financially strong, hence. You will be able to determing the financial status, or "financial condition" of the enterpise at a particular date.

hope it helps :)

cd- gb.