Need assistance with the given questions with references. Need at least two paragraphs per question.
Problem 1. Evaluate the elements of a typical income statement and explain which is most likely to present challenges and why.
Problem 2. Compare and contrast the use of income statements and balance sheets.
Problem 3. Explain the relationship between a statement of cash flow and working capital.
Problem 4. Recommend a one change that would make income statements, balance sheets or statement of cash flows more useful.