Point 6 Financial Statements Income statement. Statement of owner's equity. Balance sheet. Cash flow statement.

1.  Income statement An income statement presents the revenues and expenses, and the resulting net income or net loss for a specific period of time.

2. Statement of owner's equity A statement of owner's equity summarizes the changes in owner's equity for a specific period of time.

3.  Balance sheet A balance sheet reports the assets, liabilities, and Owner's equity at a specific date.

4.  Cash flow statement A cash flow statement summarizes information about the cash inflows (receipts) and outflows (payments) for a specific period of time.

1.  Where did the cash come from during the period? 2.  What was the cash used for during the period? 3.  What was the change in the cash balance during the period?