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Which of the following statements regarding the financial statements is TRUE? The income statement reports operating and investing activities and the balance sheet reports assets,

Which of the following statements regarding the financial statements is TRUE?

The income statement reports operating and investing activities and the balance sheet reports assets, liabilities and stockholders equity.

The statement of cash flows reports revenues and expenses and the statement of retained earnings reports assets and liabilities.

The statement of retained earnings reports dividends and the income statement reports revenues and expenses.

The balance sheet reports revenues and expenses and the statement of cash flows reports assets and liabilities.

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