Wall Street Prep- Financial Statement Modeling Exam Questions With Correct Answers

Wall Street Prep- Financial Statement
Modeling Exam Questions With Correct
Answers
Income Statement- CORRECT ANSWER-✔✔✅Revenue ->
Gross Profit ->
EBIT ->
Pretax Profit ->
Net Income ->
EBITDA ->
Adjusted EBITDA

Gross Profit- CORRECT ANSWER-✔✔✅Revenue - COGS

EBIT- CORRECT ANSWER-✔✔✅[Revenue - COGS] - Operating Expenses - D&A

Pretax Profit- CORRECT ANSWER-✔✔✅[Revenue - COGS - Operating Expenses - D&A] +
Interest Income - Interest Expense - Other Expense

Net Income- CORRECT ANSWER-✔✔✅[Revenue - COGS - Operating Expenses + Interest
Income - Interest Expense - Other Expense] - Taxes

EBITDA- CORRECT ANSWER-✔✔✅[Revenue - COGS - Operating Expenses - D&A] + D&A

Adjusted EBITDA- CORRECT ANSWER-✔✔✅[Revenue - Cogs - Operating Expenses - D&A
+ D&A] + Stock Based Compensation

Cash- CORRECT ANSWER-✔✔✅asset

Prepaid Expenses- CORRECT ANSWER-✔✔✅asset

Accounts Receivable- CORRECT ANSWER-✔✔✅asset

Inventory- CORRECT ANSWER-✔✔✅asset

PP&E- CORRECT ANSWER-✔✔✅asset

Accounts Payable- CORRECT ANSWER-✔✔✅liability

Deferred Revenue- CORRECT ANSWER-✔✔✅liability

Short-Term Debt- CORRECT ANSWER-✔✔✅liability

Long-Term Debt- CORRECT ANSWER-✔✔✅liability

Taxes Payable- CORRECT ANSWER-✔✔✅liability

Common Stock- CORRECT ANSWER-✔✔✅equity

Retained Earnings- CORRECT ANSWER-✔✔✅equity