For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, in column 3 the financial statement that the account in which the account balance is reported, and in column 4 the account's nature (permanent/temporary).
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Definitions:
Total Assets
The summation of all resources owned by a company, valued in monetary terms, including property, cash, investments, and inventory.
Solvency
A company's ability to meet its long-term debts and financial obligations.
Liquidity
The ease with which an asset can be converted into cash without affecting its market price.
Net Income
The net income of a company once all costs and taxes are subtracted from its total revenues.
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