| A | B |
|---|
| Component Percentage | The percentage relationship between one financial statement item and the total that includes that item. |
| The heading of an income statement includes the following: | The name of the business, the name of the statement, and the date of the statement. |
| The revenue section of an income statement includes the following: | The account title revenue, the account title sales, and the sales amount. |
| The expense section of an income statement includes the following: | The account title expenses, the account titles for all of the expenses, and each of the expense account amounts. |
| The formula for net income: | Total Revenue – Total Expenses |
| The formula for net loss: | Total Expenses – Total Revenue |
| Total Expenses Component Percentage | Total Expenses / Total Sales |
| Total Net Income Component Percentage | Net Income / Total Sales |
| The heading of a balance sheet includes the following: | The name of the business, the name of the statement, and the date of the statement. |
| The assets section of a balance sheet includes the following: | The title assets, the asset account titles, and the asset account amounts. |
| The equities section of a balance sheet includes the following: | The title liabilities, the liability account titles, the liability account amounts, the title owner’s equity, the owner’s equities account titles, and the owner’s equities account amounts. |
