Question: 1. Why do we need a statement of retained earnings? What does it tell stakeholders? 2. Temporary accounts, permanent accounts, closing them, not closing them,

1. Why do we need a statement of retained earnings? What does it tell stakeholders?

2. Temporary accounts, permanent accounts, closing them, not closing them, I'm confused. Explain this to me.

3. Why would a company WANT to have a high current ratio? What does it signify

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