Question: What are the two primary interrelationships between the balance sheet and the income statement? How does a businesss transactions affect its income statement and balance

What are the two primary interrelationships between the balance sheet and the income statement? How does a businesss transactions affect its income statement and balance sheet? What is the statement of cash flows, and how does it differ from the income statement? What are the three major sections of the statement of cash flows? What is the bottom line of the statement of cash flows, and how important is it

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