1. In May 1985, a small company, America Online, started in business with a service for connecting to the Internet. On March 19, 1992, AOL sold a portion of its shares to the public. AOL’s aggressive pricing and marketing campaigns fostered rapid growth. Why did AOL beat its competitors Prodigy and CompuServe? Where are each company currently?
2. Define the interrelationship between an income statement, balance sheet, and cash flow statement. Which statement is by many considered key/most important for operation of a New Venture and why?