Question: q , 1 7 . How is the Balance Sheet linked to the other financial statements? a . The amount of retained earnings is reported
How is the Balance Sheet linked to the other financial statements?
a The amount of retained earnings is reported on the Balance Sheet as a liability.
b Retained earnings is added to total assets and reported on the Balance Sheet.
c Retained earnings is on the balance sheet and is affected by changes on the lncome Statement and Statement of Retained Earnings.
d There is no link between the Balance Sheet and other statements, as each contains different accounts and provides different information.
c Retained eamings is reported on the cash flow statement and linked to stockholders' equity on the balance sheet.
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