Snark International

Balance Sheet

December ___

4. Using your notes and the figure above answer the following questions about the details of the lecture.

1) What was the subject of the reading assignment?

2) What does the income statement show?

3) What does the balance sheet describe?

4) What does the balance sheet list?

5) Where are assets listed?

6) What assets are known as the money owed by the customers but not yet received?

7) Why is the current value of the factory and equipment less than their original value?

8) Which item on the Snark’s balance sheet stands for bills that Snark hasn’t yet paid?

9) What else does Snark have to pay?

10) How much liabilities do they have?

11) Why is Snark’s net worth shown as a liability?

12)How much will you have to offer if you decide to buy Snark?

WRITING

1. Study the graph below as well as its description.

In the period between Feb 2010 and Jan 2011, an upward trend was recorded in the growth rate of retail sales peaking at x% at the end of the observed period. Having reached a low towards the end of January 1999, retail sales started rising in February, slipped back in March and remained stable at X% throughout April. A sharp increase to X% is visible in early May followed by an abrupt drop to X% in June. Retail sales climbed back to X% in July. They went up mildly in August and continued rising in September.

2. Find a graph illustrating a company’s performance or describing some other economic indicator, write a paragraph similar to that given above:make your description varied by using appropriate phrases from the Focus on Functions section of the Unit.

SUPPLEMENTARY READING