This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: o Book values are based on original values . o Market values are measured on current values of assets and liabilities. 3.2: The Income Statement • Income Statement- Financial statement that shows the revenues, expenses, and net income of a firm over a period of time. 3.3: The statement of Cash Flows • Statement of Cash Flows- Financial statement that shows the firm’s cash receipts and cash payments over a period of time. 3.5: Taxes • The corporate tax rate is 35%. • Marginal Tax rate- Additional taxes owed per dollar of additional income. • Average Tax rate-Total taxes owed divided by total income....
View Full Document
- Fall '08
- Balance Sheet, Generally Accepted Accounting Principles, Equity- Total Assets, Income Statement- Financial