You are the staff accountant working at a local tutoring center. The monthly financial statements (Income Statement, Statement of Retained Earnings, and Balance Sheet) were just finalized and released to the employees of the tutoring center. You hear some of the other employees talking about the financial statements. In most cases, the employees do not understand the purpose of the statements. You have been asked by your supervisor to create a MEMO to be sent to the employees of the tutoring center that includes the following: Select either the Balance Sheet OR the Income Statement and explain the purpose of the statement and why it is important (i.e. what should the reader know about the company by looking at the statement).
You are the staff accountant working at a local tutoring center. The monthly financial statements (Income Statement, Statement of
Select either the Balance Sheet OR the Income Statement and explain the purpose of the statement and why it is important (i.e. what should the reader know about the company by looking at the statement).
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