The financial statements present a company to the public in financial terms. (1) Which financial statement should be prepared first and why and (2) explain what information this financial statement provides.

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xxx financial statements present a company to the public xx xxxxxxxxx xxxxxx

xx xxxx xxxxx xxxxxxxxx statements are

xxx xxxxxx xxxxxxxxxx

statement xx owner's xxxxxxx

balance xxxxxx xxx

xxxxxxxxx of xxxx xxxxxx

The xxxxxx xxxxxxxxxx xxxxxxxxx of xxxxxxx xxxxxxx xxx xxxxxxxxx xx cash xxxxx report xxxxxxxx xxx x specific xxxxxx xx time, xxxxxxx a month, quarter, xx xxxxx

xxx xxxxxxx sheet reports balances of certain elements at x specific xxxxx

(1) Which xxxxxxxxx xxxxxxxxx xxxxxx xx prepared first xxx xxx xxx

Income xxxxxxxxxx It xx xxxx xxxxxx the xxxxxxxxx of earnings xx xxxxxxxxx of operations, is xxxxxxxx xxxxxx xx lists revenues xxx expenses and calculates xxx company's xxx xxxxxx xx net xxxx for a xxxxxx of time.

It xxxxx xxx xxx xxxxxxxx xxx xxxxxx on the xxxxx xxxx xxx

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