The accounting equation states: Assets + Stockholders' Equity = Liabilities Assets + Liabilities = Stockholders' Equity Assets = Liabilities - Stockholders' Equity Assets = Liabilities + Stockholders' Equity None of the above An income statement does not include which of the following? Cost of goods sold Operating expenses C. Retained earnings Sales The expense recognition (matching) principle states that: Assets are linked with liabilities and stockholders' equity in the balance sheet. Net income is determined by linking expenses incurred with related earned sales revenue. Net income is determined by linking operating cash receipts with operating cash payments. Owner contributions and owner withdrawals are linked in the statement of stockholders' equity. None of the above What categories of cash flows are presented in a statement of cash flows? Financial and non-financial Operating and non-operating Operating, investing, and financing Receipts and disbursements None of the above Which one of the following is not an external user of financial information? Creditors Internal Revenue Service Senior company management Stockholders