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(Solved by Expert Tutors) Does this statement make sense?

The income statement is



The income statement is the net income. The net income links

the balance sheet and cash flow statement. The retained earnings is equal to the previous period's retained earnings plus net income from the current period. The cash flow statement uses the net income to calculate cash flow. Any balance sheets have an impact on cash.

 


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DATE ANSWERED

Apr 19, 2020

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YES, THIS IS LEGAL

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