The results or a balance on one financial statement may affect the results or a balance on another financial statement.
Required:
Prepare a response to the following items.
A.Describe how the income statement is related to the statement of stockholders' equity.
B.Describe how the statement of stockholders' equity is related to the balance sheet.
C.Describe how the statement of cash flows is related to the balance sheet.

Question

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The Answer of The results or a balance on one financial statement may affect the results or a balance on another financial statement.
Required:
Prepare a response to the following items.
A.Describe how the income statement is related to the statement of stockholders' equity.
B.Describe how the statement of stockholders' equity is related to the balance sheet.
C.Describe how the statement of cash flows is related to the balance sheet.

The Results or a Balance on One Financial Statement May