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A classified balance sheet: Measures a company's ability to pay its bills on time. Organizes assets and liabilities into important subgroups. Presents revenues, expenses and

A classified balance sheet:

Measures a company's ability to pay its bills on time.

Organizes assets and liabilities into important subgroups.

Presents revenues, expenses and net income.

Shows operating, investing, and financing activities.

Shows the effect of net income and withdrawals on owner's capital.

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