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Pretend you are building a house using a balance sheet, an income statement, and a cash flow statement. Which of these financial statements would you
Pretend you are building a house using a balance sheet, an income statement, and a cash flow statement. Which of these financial statements would you consider the foundation of the house? Which statement would be the walls? Which would be the roof, the doors, or the windows, etc.? Justify your decision for the assigning the financial statements to the various parts of the house. You can include other parts of the house as long as you explain why a particular financial statement serves the same purpose as that component of the house.
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