Identify three questions that can be answered by reviewing a firm's income statement but that cannot be

Question:

Identify three questions that can be answered by reviewing a firm's income statement but that cannot be answered by reviewing the firm's balance sheet or statement of stockholders' equity. Be specific.

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...