igriffit-00348iquiz action-takeQuiz&quiz probGuid-QNAPCOA801010000003e274 m 1519504504111 0AAA6B04016086D There is a natural progression from one statement to the next. The following boxes represent the four finandial statements. The set of financial statements is prepared at the end of each accounting period to communicate information about the company's operations during that period to its users. Use the selection lists to demonstrate your knowiedge of the relationships between the statements. In the headings, you will need to select the appropriate statement name and time period. (Hint: Ask yourself if the statement covers a period of time or if it is a snapshot at a given point in time.) Then complete the blanks following the headings. Statement 1: ABC Company Income Statement This statement shows how profitable a company is. It is sometimes referred to as the profit and loss (P&L) statement. This statement summarizes the [revenues and expenses which item from this financial statement appears on the next financial statement? Statement 2: ABC Company This statement shows how much, if any, of the net income is distributed to the owners. It is sometimes expanded to show changes to all equity items. This statement summarizes the Which item from this financial statement appears on the next fin statement? ancial igriffit-00348iquiz action-takeQuiz&quiz probGuid-QNAPCOA801010000003e274 m 1519504504111 0AAA6B04016086D There is a natural progression from one statement to the next. The following boxes represent the four finandial statements. The set of financial statements is prepared at the end of each accounting period to communicate information about the company's operations during that period to its users. Use the selection lists to demonstrate your knowiedge of the relationships between the statements. In the headings, you will need to select the appropriate statement name and time period. (Hint: Ask yourself if the statement covers a period of time or if it is a snapshot at a given point in time.) Then complete the blanks following the headings. Statement 1: ABC Company Income Statement This statement shows how profitable a company is. It is sometimes referred to as the profit and loss (P&L) statement. This statement summarizes the [revenues and expenses which item from this financial statement appears on the next financial statement? Statement 2: ABC Company This statement shows how much, if any, of the net income is distributed to the owners. It is sometimes expanded to show changes to all equity items. This statement summarizes the Which item from this financial statement appears on the next fin statement? ancial