The financial statements of a company include balance sheets , income statements, and cash flow statements. All these statements help the internal and external users of financial statements help in analyzing and concluding the financial position of the respective company. To state: The impact of transactions on the net income, total assets, total liabilities, and total equity.

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Chapter 3, Problem 14E

To determine

Introduction: The financial statements of a company include balance sheets, income statements, and cash flow statements. All these statements help the internal and external users of financial statements help in analyzing and concluding the financial position of the respective company.

To state: The impact of transactions on the net income, total assets, total liabilities, and total equity.

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