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The three financial statements: the Income Statement, the Balance Sheet, and the Statement of Cash Flows. Please explain the advantages and disadvantages of using these

The three financial statements: the Income Statement, the Balance Sheet, and the Statement of Cash Flows. Please explain the advantages and disadvantages of using these statements to make financial decisions for the firm. Note what valuable information can be obtained from each statement. Think about how that information can be used to guide decisions and how that information might be misleading.

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