How are each of the following financial statements interrelated? (a) Retained earnings statement and income statement. (b)

Question:

How are each of the following interrelated?
(a) Retained earnings statement and income statement.
(b) Retained earnings statement and
(c) and statement of cash flows.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...