Measures sales, expenses, and profit over a period.
Follow the pulsing words and matching blanks from sales to net income. Get a short explanation and feedback at each step.
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EBIT, EBITDA, net income, taxes, and retained earnings. 10 True/False questions with instant feedback.
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Shows assets, liabilities, and equity at one point in time.
Fill Assets on the left and Liabilities and Equity on the right. Follow the highlighted words, calculate the totals, and check that both sides balance.
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Assets, liabilities, equity, and the accounting equation. 10 True/False questions with instant feedback.
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Explains changes in cash through operating, investing, and financing activities.
Follow a simplified example through operating, investing, and financing activities, then check ending cash. This video uses different numbers from the Home Depot practice below.
Start with net income, follow the operating adjustments, and work through investing and financing to find ending cash.
Home Depot-based illustration: the extra changes and cash transactions are labeled teaching assumptions, not reported historical cash flows.
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Start with net income, then make these adjustments:
Purpose and structure. 10 True/False questions with instant feedback.
Working capital adjustments and calculations. 10 True/False questions with instant feedback.
Use the given statements to complete each blank. Select Check for feedback on one line or Check all my answers. If an answer is wrong, read the explanation and try again. Your completed statement appears after every line is correct.
| Line | Amount | Use for |
|---|---|---|
| Net sales | 36,408 | context |
| Less: Cost of goods sold | 28,225 | context |
| Less: Depreciation | 1,760 | add-back in CFO |
| Earnings before interest and taxes (EBIT) | 6,423 | context |
| Less: Interest paid | 510 | context |
| Taxable income | 5,913 | context |
| Less: Taxes | 2,070 | context |
| Net income | 3,843 | starting line |
| Item | 2023 | 2024 |
|---|---|---|
| Cash | 2,060 | 1,003 |
| Accounts receivable | 3,411 | 4,218 |
| Inventory | 18,776 | 21,908 |
| Net fixed assets (NFA) | 14,160 | 14,080 |
| Accounts payable | 7,250 | 8,384 |
| Long-term debt | 9,800 | 11,500 |
| Common stock | 15,000 | 17,500 |
| Retained earnings | 6,357 | 3,825 |
Exercise assumptions: No fixed-asset disposals, acquisitions, noncash asset purchases, or other investing activities. Changes in debt and common stock represent cash financing. Retained earnings change only through net income and cash dividends. No other operating adjustments or foreign-exchange effects.
A/R example: 4,218 − 3,411 = +807 change in A/R. A/R is an operating asset, so reverse the sign: cash-flow adjustment = −807. The company recorded sales that it has not yet collected in cash.
Inventory increased from $18,776 to $21,908. Long-term debt increased from $9,800 to $11,500. Classify each change.
Use the same assumptions as Practice A. There are no debt cash flows in this exercise. Start by computing net income from EBIT.
Memory rule: Operating assets use the opposite sign; operating liabilities use the same sign. Then combine every signed amount with net income and depreciation.
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