Statement or Report Annual report Description Is published once a year and provides stockholders with details about the company's performance and financial condition Details changes in the capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings Gives details about the firm's sales, costs, and profits for the past accounting period Provides a quantitative summary of a company's assets, liabilities, and net worth at a specific point in time Aggregates all cash inflows, which the company receives from its ongoing activities and investment sources, and all cash outflows Statement of cash flows Income statement Balance sheet Statement of stockholders' equity Annual report Accountants focus on creating financial statements, whereas finance professionals use these statements to evaluat firm and answer questions about its performance. Indicate which financial statement you would refer to when answering the questions in the following table: Income Statement Statement of Stockholders' Equi How profitable has the firm been? How much of the firm's earnings are left as balance after the firm pays out dividends to its shareholders