Which of the following statements is CORRECT?
a. The statement of cash needs tells us how much cash the firm will require during some future period, generally a month or a year.
b. The balance sheet gives us a picture of the firm's financial position at a point in time.
c. The statement of cash flows tells us how much cash the firm must pay out in interest during the year.
d. The four most important financial statements provided in the annual report are the balance sheet, income statement, cash budget, and the statement of stockholders' equity.
e. The income statement gives us a picture of the firm's financial position at a point in time