Suppose you are analyzing the fnancial statements of Adams Medical, Inc. Identify each item with its appropriate

Question:

Suppose you are analyzing the fnancial statements of Adams Medical, Inc. Identify each item with its appropriate fnancial statement, using the following abbreviations: Income statement (IS), Statement of retained earnings (SRE), (BS), and Statement of cash flows (SCF). Tree items appear on two fnancial statements, and one item shows up on three statements.
a. _____ Accounts payable
b. _____ Inventory
c. _____ Interest revenue
d. _____ Long-term debt
e. _____ Net cash used for fnancing activities
f. _____ Salary expense
g. _____ Cash
h. _____ Dividends
i. _____ Increase or decrease in cash
j. _____ Net income
k. _____ Net cash provided by operating activities
l. _____ Retained earnings
m._____ Sales revenue
n. _____ Common stock

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...