Explain the purposes of the income statement and balance sheets?
Answer to relevant QuestionsWhat determines a company’s profitability?Describe the three major components of a cash flow statement.What are some of the basic principles that govern the financing of a firm? Why are they important? 1. What would you do, if you were Chang? Support your decision.2. Is there anything Chang should do in the future to avoid, or at least anticipate, such a situation?3. What lesson should Chang learn from this situation?1. What is your impression of Bernstein’s perspective on raising capital “to get to the next level”?2. What advice would you offer Bernstein as to both appropriate and inappropriate sources of financing in his ...
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