October 29th, 2020 
Please answer each of the following questions in detail and provide in-text citations in support
of your argument. Include examples.
Provide an explanation of the three basic financial statements, namely, the balance sheet, the
income statement, and the statement of cash flows. Analyze the relation between change in
equity, the net income, and the cash flows from investing activities, during a period. Please
describe and provide examples demonstrating your understanding of retained earnings, in
which financial statement it is recorded, and under which category.
use the book as reference too.
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