Financial stetements Each of the following aems is shown on the finanobl statements of Exoon Mobil Corporation (XOM): a. Identify the financial stotement (balance sheet or income statement) in which each item wosid oppear. b. Can an item appear on more than one Annancial statement? c. Is the accounting equation relevant for Excon Motil Corporotion? Explain. the accounting equation reievant to all componies. The accounting equation is the basis for accounting systems