Problem
a. What is the difference between the income statement and balance sheet in regards to timing?
b. What is wrong with this statement: "The clinic's cash balance for 2007 was $150,000, while its net income on December 31, 2007 was $50,000."
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.