Assignment: Financial Statements
The business will be a barbershop. This business has not been opened yet.
Develop your current financial statements for one year (if your business hasn't started yet, develop a statement of financial position based on your estimates) and calculate financial ratios:
o Cash Flow Statement in spreadsheet format
o Income Statement in spreadsheet format
o Balance Sheet in spreadsheet format
o Evaluate your current financial status based on your financial statements. How do you stand, financially? How does it align to your goals? What recommendations do you have for your business?
o Select two different financial ratios discussed in your readings, calculate the two for your business, and complete the following in a narrative:
- What does the result of each ratio tell you about your business?
- What augmentations can you make to improve the results?
Format your assignment according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.