How is the Income Statement different from the Balance Sheet
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How is the income statement different from the balance sheet?
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Solution Summary
Your tutorial is 265 words and gives you several contrasting features regarding income statements and balance sheets.
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The income statement tells the story of the transactions for the period. What was sold to customer, what was paid to employees, what costs were incurred in the process of serving customers and maintaining capacity for products and services. The story has a beginning date and ending date and the "period" between these two is the time interval for the story. The story has a ...
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