Questions about Entrepreneurship

[cinaroztosun]

Hello everyone,

While applying for Entrepreneurship award there is an essay with subject "FINANCIAL STATEMENT".

And following information is written under this title:

"Please include information on team finances (include financial statement detailing income and expenditures)
Uploading an image of your team financial plan below, will also satisfy this requirement."

So I have 2 questions,

First, how should I exactly answer this? Should I explain it with a paragraph or with a chart ?

Second, what exactly "THIS REQUIREMENT" statement in the second sentence indicates? Just an image is enough for all question above? or should I complete two of the assignments above?

Thank You !