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April 29, 2022

Describe the purpose of the five primary financial statements. Statement of Comprehensive Income? Income Statement? Balance Sheet?

Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member.

Due Day 3

Respond to the following in a minimum of 175 words:

Describe the purpose of the five primary financial statements.

Statement of Comprehensive Income
Income Statement
Balance Sheet
Statement of Cash Flows
Statement of Shareholder's Equity

Give an example of a profitability, liquidity, and solvency ratio and explain the components and which financial statement would provide the information.

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