provide a discussion response to the paragraphs listed below. I included the initial question for you as well. Can you also include references. Thank you. Compare and contrast an income statement and a balance sheet. What do they measure? Why would a marketing manager find the income statement more useful than the balance sheet? The income statement will measure the expenses and the revenue, generally for one particular quarter. The balance sheet is a snapshot in time of the financial health of the company and can be thought of as obsorbing the prior income statement. For example, if revenue is down one quarter, it will have an impact on the next balance sheet released by showing a decrease in shareholder's equity (although other impacts could be just as likely such as changes to the assets or liabilities). Each subsequent income statement will impact the next balance sheet released. For internal users, the importance may lie in the level of the employee. For the chief marketer, the income statement would be very important to measure the success of a recent product line (based on a comparision of the sales to expenses needed to launch the product). For CEOs, the balance sheet might be more important as he or she is responsible for the overall pulse of the company. For external users such as a lender, the big picture may be the primary deciding factor in whether to extend a loan. Therefore, a lender may be concerned with the balance sheet. It becomes more complicated for investors. Long term value investors looking for a good company (but have had a string of bad luck recently), might be looking for a solid balance sheet. A growth investor or short term investor would be looking for a increases in revenue over past quarters in the income statement