UNDERSTAND YOUR INCOME & BALANCE SHEET. This presentation reviews some topics learned in session 101, explaining how the income statement works and how it relates to the balance sheet. Join us on March 8th from 11:00 a.m. – 1:00 p.m. when we will also go over some common situations, such as how payroll gets recorded behind the scenes. It is highly recommended you attend Bookkeeping 101 prior to attending this course. Fee: $25. Location: City of Panama City – City Hall, 501 Harrison Ave, Panama City, FL 32401. Presented by Kyle Polhlopek, Business Consultant, Florida SBDC at UWF.