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1. Income Statement 2. Balance Sheet 3.Statement Of Cash Flows 4.Statement Of Retained Earnings Briefly explain each of the four basic financial statements. What are

1. Income Statement

2. Balance Sheet

3.Statement Of Cash Flows

4.Statement Of Retained Earnings

Briefly explain each of the four basic financial statements. What are their primary purposes? Which financial statement is the most important? Explain why.

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