Project: Business Ventures – Part 3 This project will focus on using the principles of financing and financial statements covered in Chapters 1 & 2, to develop financial statements—an income statement and a balance sheet—for a business you choose. If you have already completed Business Ventures Part 1 and Part 2, you may continue to base Part 3 on that business, or you can start with a new business. Your main goal for this project is to create a table like the one shown below to develop your financial statements: an income statement and a balance sheet. Next, you will analyze the charts relating to an income statement and a balance sheet. Finally, you will decide what financing source you will use to expand your business and explain why you chose this source.

During this project you'll accomplish the following:

Objectives
Create a table and develop an income statement and a balance sheet.
Analyze charts relating to an income statement and a balance sheet.
Decide what financing source you will use to expand your business and explain why you chose this source.
Business Ventures - Part 3

Directions
1. Using the information learned in Unit 3, create a table like the one shown below to develop your financial statements: an income statement and a balance sheet.

Click here for a printable income statement.

Click here for a printable balance sheet.

2. Next, using the information from the charts shown below, analyze the information and explain how it relates to an income statement or a balance sheet.

img/img_is_graph_business_ventures3 .gif

img/img_bs_graph_business_ventures3 .gif

Write a paragraph to explain if the business had a net income or net loss. Why?

Write a paragraph to explain what the chart shows about the business's financial condition?

3. Now, based on your financial statements, decide what financing source (self-financing, friends and family, investors, loans, grants, or credit cards) you will use to expand your business and explain why you chose this source.

Question # 1
Long Text (essay)
Type your answers to the questions here:

Write a paragraph to explain if the business had a net income or net loss. Why?

Write a paragraph to explain what the chart shows about the business's financial condition?

Based on your financial statements, decide what financing source (self-financing, friends and family, investors, loans, grants, or credit cards) you will use to expand your business and explain why you chose this source.