Question

The balance sheet, the statement of cash flows, and the ______________ are three key financial statements prepared by accountants.

Group of answer choices

Answer 1

Income statement

Step-by-step explanation:

The income statement will provide the company's total Expenses and Revenues within one financial period.

The difference between these expenses and revenues will determine whether the company's operation is considered as profitable in that year. (if the revenue outnumbered the expenses, the company incurred a net profit).

Shareholders use company's typically use income statement to calculate the amount of revenue that they'll obtain from their percentage of shares.