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What is the purpose of the Income Statement and what is the final line on it?
What is the purpose of the Income Statement and what is the final line on it?
The purpose of the Income Statement is to show a company’s revenue and expenses. The final line on the statement is Net Income.
What are some examples of resources listed on the Balance Sheet?
What are some examples of resources listed on the Balance Sheet?
Examples of resources listed on the Balance Sheet include Cash, Inventory, and PP&E (Property, Plant, and Equipment).
What does the Cash Flow Statement list, and what is the final piece of information you see on it?
What does the Cash Flow Statement list, and what is the final piece of information you see on it?
The Cash Flow Statement lists cash flow from investing and financing activities, and it begins with Net Income. The final piece of information you see on it is the company’s net change in cash.
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