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QUESTION 11 An analysis that reports each dollar amount in a financial statement as a percentage of another amount is called: vertical analysis. horizontal analysis. percentage analysis. financial statement analysis. QUESTION 12 A statement that reports the changes in the retained earnings accounts during an accounting period is called the: statement of changes in owner's equity. statement of retained earnings. statement of income. statement of stockholders' account. QUESTION 13 Which statement classifies activities as operating, investing, or financing? Income statement Cash flow statement Statement of retained earning Statement of stockholders QUESTION 14 Which account should you debit to close the net loss of a merchandise business? Operating income account Retained earnings account Stockholders account Income Statement Account QUESTION 15 The maximum number of shares a corporation may issue is called: authorized capital stock. preferred stock. equity stock issued stock