acc2361 at Texas State













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acc2361.com Formula Sheet
Assets = Liabilities + Shareholder's Equity (Or Owner's Equity)
Contributed Capital
+ Retained Earnings
Shareholder's Equity (or Owner's Equity)
Beginning RE
+ Net Income
– Dividends
Ending RE
Revenues
– Expenses
Net Income
Sales
– COGS
Gross Profit
– Operating Expenses
Total Income From Operations
– Non-Operating Expenses
Income Before Taxes
– Tax Expense
Net Income
(This is the Multi-Step Income statement)