Information in the Financial Statements A financial statement is a summary of all the financial transactions that have oocuirred over a particular period. Financial statements indicate a frm's financial health and stability, and are key factors in management decision making. Thaf's why stockholders, bondholders, banks, labor unions, employees, and the Internal Revenue Service are all interested in a firm's financial statements. The major three financial statements contain data that is often confusing to many students, yet when the data is placed in its oorrect location, the financial statements bring forth a wealth of information. Please analyze and place each item in the appropriate financial statement to which it belongs Revenues Long-term liabilities Balance Sheet Income Statement Flow Owner's equity expense Land Patents Costs of Goods Income tax Sold Insurance expense Net change in cash Cash Balance Accounts Res