Suppose you are analyzing the financial statements of Murphy Radiology, Inc. Identify each item with its appropriate

Question:

Suppose you are analyzing the of Murphy Radiology, Inc. Identify each item with its appropriate financial statement, using the following abbreviations: Income statement (IS), Statement of retained earnings (SRE), (BS), and Statement of cash flows (SCF). Three items appear on two and one item shows up on three statements.
a. ____ Dividends
b. ____ Salary expense
c. ____ Inventory
d. ____ Sales revenue
e. ____ Retained earnings
f. ____ Net cash provided by operating activities
g. ____ Net income
h. ____ Cash
i. ____ Net cash used for financing activities
j. ____ Accounts payable
k. ____ Common stock
l. ____ Interest revenue
m.____ Long-term debt
n. ____ Increase or decrease in cash

Financial Statements
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Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...