Accounting Statements Write a four paragraph answer, citing the text, pretending that your current (or previous) job is its own company. Prepare a simple version of each of the 4 typical financial statements (see page 17) for this pretend company. Although it is not necessary to display statements, state what each of the statements tells you about your job (pretend company). Respond to at least two of your fellow students’ postings. | | This section shows how financial statements are prepared from the analysis of business transactions. The four financial statements and their purpose is: | 1. Income Statement- A summary of an organization's performance as imitated in the effectiveness (or lack of it) of an association over a positive dated. It details the incomes and expenditures of past, that led to the existing revenue or loss, and specifies what may be done to progress the effects. (Brownfield, 2007. Pg. 17). | Income Statement Template | Justifiable Record LabelIncome StatementFor the Year Ending in December 30th, 2013 | Revenues: Services to Clients (Performances) $500,000 Interest Revenue $ 20,000 Total Revenues $520,000Expenses: | Salaries (To Artist) $ -250,000 Studio Sessions $ -35,000 Other operating expenses $ -150,000 Total Expenses $ - 435,000Net Income: