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Does this statement make sense? The income statement is the net income. The net income links the balance sheet and cash flow statement. The retained
Does this statement make sense?
The income statement is the net income. The net income links the balance sheet and cash flow statement. The retained earnings is equal to the previous period's retained earnings plus net income from the current period. The cash flow statement uses the net income to calculate cash flow. Any balance sheets have an impact on cash.
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