[GNC] Statement of Financial Position

[Michael or Penny Novack]

On 11/26/2025 4:01 PM, Ken Pyzik wrote:
> Michael -- yes; you are correct to correct me.  Please forgive me — I 
> am a cash is king kinda guy!
>
The problem with going just by cash is that you would not see that your 
liabilities are growing.

Take personal finances. Suppose every month your credit card balance is 
going up $400. That's about $5000/year. But you have plenty of cash in 
your wallet, cash flow looks good. Is your financial position OK?

On the other hand, maybe your are paying down that accumulated credit 
card debt by $400/mo (same $5000/year). But you are running out of money 
in your checking account to pay current bills (you have a cash flow 
problem).

You need BOTH reports (unless you have enough in savings accounts so 
cash is not an immediate issue)

Michael D Novack