Accounting practice in the United States follows the generally accepted accounting principles (GAAP) developed by the Financial Accounting Standards Board (FASB), which is a nongovernmental, professional standards body that monitors accounting practices and evaluates controversial issues. The Securities and Exchange Commission (SEC) requires all publicly traded companies to periodically report their financial information.

A publicly held corporation must publish an annual report that contains the balance sheet, income statement, statement of cash flows, statement of stockholders’ equity, and other financial information for analysis.

The following table lists descriptions of the major financial statements and reports that a firm publishes. Identify the correct statement or report for each description.

Description	Statement or Report
Is required by the SEC and includes the audited document that shows the company’s financial results for the past year and management’s discussion about the future outlook and plans?
Has three segments that when analyzed together give an idea of what the company owns and what it owes?
Provides details about the flow of funds from operating, investing, and financing activities?
Details changes in the capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings?
Is divided into two important parts: operating and non-operating sections; also known as the profit and loss statement?