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The Income Statement (P&L) shows: Cash Inflows Cash Outflows Assets = Liabilities + Shareholders Equity Revenues (Sales) Expenses = Net Income (Earnings) All of the

The Income Statement (P&L) shows:

Cash Inflows Cash Outflows

Assets = Liabilities + Shareholders

Equity Revenues (Sales) Expenses = Net Income (Earnings)

All of the above

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