Information in the Financial Statements A financial statement is a summary of all the financial transactions that have occurred over a particular period. Financial statements indicate a firm's financial health and stability, and are key factors in management decision making. That'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 correct location, the financial statements bring forth a wealth of information. Match each item with the part of the financial statement to which it belongs. 1. Accounts receivable balance sheet income statement statement of cash flow 2. Advertising expense balance sheet income statement statement of cash flow 3. Cash balance balance sheet income statement statement of cash flow 4. Cost of goods sold balance sheet income statement statement of cash flow 6. Insurance expense balance sheet income statement statement of cash flow 7. Land balance sheet income statement statement of cash flow 8. Long-term liabilities balance sheet income statement statement of cash flow 9. Net change in cash balance sheet income statement statement of cash flow 10. Owner's equity balance sheet income statement statement of cash flow 11. Patents balance sheet income statement statement of cash flow 12. Revenues balance sheet income statement statement of cash flow