| A | B |
|---|
| statement of stockholders' equity | A financial statement that shows changes in a corporation’s ownership for a fiscal period. (p. 482) |
| supporting schedule | A report prepared to give details about an item on a principal financial statement. (p. 492) |
| par value | A value assigned to a share of stock and printed on the stock certificate. (p. 483) |
| current liabilities | Liabilities due within a short time, usually within a year. (p. 489) |
| long-term liabilities | Liabilities owed for more than a year. (p. 489) |
| net sales | The amount of sales, less sales discounts and sales returns and allowances. (p. 475) |
| operating expenses | The expenses incurred by a business in its normal operations. (p. 478) |
| income from operations | The operating revenue remaining after the cost of merchandise sold and operating expenses have been deducted. (p. 478) |
| cost of merchandise sold | The original price of all merchandise sold during a fiscal period. (p. 476) |
| operating revenue | The revenue earned by a business from its normal business operations. (p. 475) |
| gross profit | The revenue remaining after cost of merchandise sold has been deducted. (p. 476) |
