As an accountant for an airplane manufacturing company, Beatriz prepares a statement of cash flows for inclusion in the company's annual report. Which of the following is incorrect regarding the statement of cash flows? Whereas a firm's balance sheet reports dollar values for assets, liabilities, and owners' equity, the statement of cash flows focuses on how much cash is on hand to pay the firm's bills. The information on the statement of cash flows can be used to evaluate decisions related to a firm's future investments and financing needs. It is also referred to as the balance sheet. It illustrates how the company's operating, investing, and financing activities affect cash during an accounting period