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    Income Statement/Balance Sheet

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    What purpose do the income statement and balance sheet serve, and who is the target audience for these financial statements? In relation to each of these financial statements, distinguish between flows and stocks, using an example of each term.

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    https://brainmass.com/business/balance-sheet/income-statement-balance-sheet-392768

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    The purpose of the income statement and balance sheet are:
    1. to provide information about company's assets, liabilities and equity (Balance sheet)
    2. to provide information about company's ...

    Solution Summary

    The expert examines income statements and balance sheets for service.

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