For each of the following questions, indicate which financial statement would most likely be used to provide

Question:

For each of the following questions, indicate which financial statement would most likely be used to provide the information. Use the following abbreviations: Income statement (I), Statement of retained earnings (R), Balance sheet (B), and Statement of cash flows (C).

a. What were the company’s net sales for the year?

b. What assets does the company have?

c. How much cash was generated by operating activities?

d. Why did the company’s retained earnings change during the year?

e. How much in total debt does the company have?

f. How well did the company perform during the year?

g. Did the company declare a dividend during the year?

h. How much cash did the company generate and spend during the year?

i. What is the company’s financial position at the end of the year?

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... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...

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