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Describe the purpose of the five primary financial statements. Statement of Comprehensive Income Income Statement Balance Sheet Statement of Cash Flows Statement of Shareholder's Equity

Describe the purpose of the five primary financial statements.

  • Statement of Comprehensive Income
  • Income Statement
  • Balance Sheet
  • Statement of Cash Flows
  • Statement of Shareholder's Equity

Give an example of profitability, liquidity, and solvency ratio and explain the components and which financial statement would provide the information.

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