Cindy Monroe wants to create a fund today that will enable her to withdraw $26,800 per year for 8 years, with the first withdrawal to take place 5 years from today. Click here to view factor tables. If the fund earns 10% interest, how much must Cindy invest today? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, eg, 458,581.)

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Income Statement

Income Statement also commonly called a profit and loss statement, one of the key financial statements (considered together with balance sheet and cash flow statement) which shows the revenues and expenses, as well as the gains and losses of a company for a given period. In other words, it presents the financial performance/profitability of a business over a specified accounting period.