c) How do we distinguish between current asset vs. long-term asset and currently liability vs. long- term liability? L02. How could a worksheet help in preparing financial statements? If a company has a net income, the amount of net income would be entered on the (debit or credit) side of the income statement columns on the worksheet a) If a company has a net loss, the amount of net loss would be entered on the credit) side of the income statement columns on the worksheet b) (debit or LO3. What is the closing process, and how do we close the accounts? a) List 4 examples of temporary accounts. iv) age 1 of 2 374 Words English (us) F5 sc FI F2 0