1.Which financial statement is divided into two important parts: operating and nonoperating sections. It is also known as the profit and loss statement.

a.Statement of Retained Earnings

b.Balance Sheet

c.Statement of Cash Flows

d.Income Statement

2.Which financial statement provides a quantitative summary of a company's assets, liabilities, and networth?

		Income Statement
		Balance Statement
		Statement of Cash Flows
		Statement of Retained Earnings