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Author Question: What is the connection between the income statement and the balance sheet? (Read 40 times)

BrownTown3

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on: Apr 25, 2021
What is the connection between the income statement and the balance sheet?
◦ The income statement captures the flow of activity during the year and the balance sheet is a 'snapshot' of the company at the end of the year.
◦ The income statement shows the profit earned by the owners and the balance sheet shows the book value of the owner's equity.
◦ Net income (minus dividends) is added to retained earnings in the balance sheet.
◦ Accounting laws require that companies report both statements.
◦ The cash flow statement draws from both the income statement and the balance sheet.
Corporate Finance Online ¦ Eakins, McNally ¦ 2nd Edition
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Marked as best answer by BrownTown3 on Apr 25, 2021

orangecrush

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Reply #1 on: Apr 25, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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BrownTown3

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Reply 2 on: Apr 25, 2021
Great answer, keep it coming :)

aruss1303

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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