In general terms, explain the role of each of the two main financial statements for a business

Question:

In general terms, explain the role of each of the two main for a business enterprise: the statement of earnings and the statement of financial position. Outline the type of information that each statement presents, and the basic difference between the types of items that appear on the statement of earnings versus those that appear on the statement of financial position.
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...