For each of the following items (A L), indicate on which financial statement you would expect to

Question:

For each of the following items (A– L), indicate on which financial statement you would expect to find it and briefly explain why.
1. Income statement
2. Statement of cash flows
3. Cash paid to suppliers
B. Provision for income taxes (income tax expense)
C. Sales, both cash and on account
D. Dividends paid during the period
E. Buildings
F. Net income
G. Cash received from sale of building
H. Operating expenses
J. Note payable, due in 5 years
K. Patents
L. Retained earnings
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...