1. Review the basic accounting formulas:
   • Assets = Liabilities + Owner's Equity
   • Revenue - Expenses = Net Income
2. Calculate the missing values on the financial statements.

Review the following income statements: Answer the rollowing quesnons: - How do the income statements differ from each other? - Why does Green Valley show an income tax expense, while BestCare does not? - What is Green Valley's total profit margin? How does this compare with BestCare? - The before-tax profit margin for Green Valley is operating income divided by total revenues. Calculate Green Valley's before-tax profit margin. - Why might this be a better measure of expense control when comparing an investor-owned business with a not-for-profit business