Provide your response to the following questions. What is the difference in timing between the income statement and the balance sheet? What is wrong with this statement: "The clinic's cash balance for 2021 was $150,000, while the net income on December 31, 2021 was $50,000".? What is the relationship between net income on the income statement and the equity section on a balance sheet? What makes an asset a current asset? What makes a liability a current liability? Provide two examples of current assets and two examples of current liabilities.