Monday, January 13th

Today we learned about the different statements an entrepreneur has to prepare for his or her business. These statements include the income statement, balance sheet, and the statement of cash flows. The income statement deals with the revenue, COGS, gross profit, etc. it basically tells you whether you are making a profit or not. The balance sheet deals with asserts, liabilities, and equity. It pretty much shows how a business is financed. Then the statement of cash flows deals with the outflows and inflows of cash in the business. It shows how much cash you have currently. 

Also we watched another episode of Shark Tank today. The entrepreneurs had a product that was stronger and more durable than duct tape that was able to be sold at a cheap price. Three sharks were interested but the entrepreneurs wanted way too much for their business. I would invest in this product because it is very useful and their sales were pretty impressive for just over a couple months. I do think that they undervalued their product. They could sell it for much more than they are right now but nevertheless I would invest in this product.