Which financial statement would be most useful to answer each of the following questions?
a. Does the corporation have enough resources to pay its short-term debts?
b. What is the corporation’s policy toward “growing the company” versus distributing its wealth to owners?
c. Did the corporation pay its operating costs with resources generated from operations, money borrowed from banks, or money generated from selling off its buildings and equipment?
d. Did the corporation make a profit last year?