Why is the information in the notes to the financial statements important to financial statement readers? Choose the best answer. Select answer from the options below It is helpful for determining the value of obsolete items included in ending inventory. It is helpful because the increasing complexity of business operations in such areas as derivatives, leasing, business combinations, pensions, financing arrangements, and revenue recognition increases the difficulty of summarizing economic events. The information is helpful for determining net income, total assets, and total revenues for the year. The information is helpful for determining whether the working capital position is adequate for future operations.

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