Describe the purpose of the five primary financial statements.

• Statement of Comprehensive Income
• Income Statement
• Balance Sheet
• Statement of Cash Flows
• Statement of Shareholder's Equity

Give an example of a profitability, liquidity, and solvency ratio and explain the components and which financial statement would provide the information.

Answer rating: 100% (QA)

Answer The five primary financial statements serve different purposes in providing essential information about a companys financial performance position and cash flows Heres a brief description of eac... View the full answer