Maria, another classmate, manages an extraordinary global eco-tourism business, which she co-founded. She's reviewing the financials for 2020, which were record-setting. She asked her finance team to give her a common sized income statement and balance sheet, comparing the past two years' performance.
What items (main categories) should appear on the balance sheet?
What items (main categories) should appear on the income statement.
Where does inventory appear?
Where does equipment appear?