- Balance sheet and income statements This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas. Focus your discussion on the following questions: - Of the following financial statements, discuss which you believe is the most important for making business decisions: balance sheet, income statement, or the statement of cash flows. Why do you think it is the most important? - Give an example for how financial statements might be used to make a business decision