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4 - Considering the financial information in the various...

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Considering the financial information in the various financial statements, which statements provide information on a company's performance over a reporting period? Which present data on a company's current position? Financial statements are summaries of monetary data about an enterprise. The most common financial statements include the balance sheet, the income statement, the statement of retained earnings, and the statement of cash flow. These statements are used by management, labor, investors, creditors and government regulatory agencies, primarily. Financial statements may be drawn up for private individuals, non-profit organizations, retailers, wholesalers, manufacturers and service industries. The nature of the enterprise involved dramatically affects the kind of data available in the financial statements. The purpose of the user dramatically affects the data he or she will seek. An income statement is a report that shows how much revenue a company earned over a specific time period (usually for a year or some portion of a year). An income statement also shows
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