please write three complete and well-composed paragraphs and state which financial statement: (1) Balance Sheet or (2) Income Statement is more important to an outside investor. Explain your choice and why you think so.

You will not be assessed on your choice of financial statement (there is no correct answer to the question). But rather, your response will be assessed on how well you explain your opinion. The purpose of this question is for you to demonstrate your understanding of the uses of financial statements.