What is the formula for selling prices?Selling price = (Cost x Desired profit margin) + CostWhat is the formula for determining equity?Equity = Assets - LiabilitiesWhat is the formula for determining net income?Net income = Income - Cost of goods sold - ExpensesWhat is the formula for determining ending cash balance?Ending cash balance = Total cash - Total costsWhen must equipment and inventory loans through the Small Business Administration (SBA) be paid back?10 yearsWhich are eligibility requirements for a Small Business Administration (SBA) grant? Choose three answers.1. The company must do business within the United States or its territories. 2.The owners must have responsible owner equity to investment. 3.The business must operate for profit.Small Business Administration (SBA) GrantsFree money given to small business owners to help with the launching and development of their business. They do not have to be paid backCrowdfundingSharing a startup business on an online platform where one can pre-sell products. The money from the pre-sale orders can be used as capital to build the productsSmall Business Administration (SBA) LoansLoans must be paid back with interest. The maturity terms differ depending on the type of loanInvestorHelps fund a business or a specific project, usually for some kind of stake in the companyBootstrappingAn owner uses their own savings to fund the businessA(n) ______ refers to the net profit the company wants to make from the sale and is usually represented using a percentage.Profit MarginA(n) _______ price represents how much money it costs a business to make or obtain the products or how much it costs a business to perform the service.costA(n) _______is a financial report that shows a company's assets, liabilities, and equity for a specific period.Balance sheet_______ is the owner's remaining value after all liabilities have been deducted.EquityA(n) _______ statement, also known as a profit and loss statement, shows the total revenues and expenses for a specific period.IncomeThe ________ point is the amount of revenue required to cover expenses.break-even

Entrepreneurship & Small Business V2 Exam Domain 4

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