Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member.

Due Day 3

Respond to the following in a minimum of 175 words:

Describe the purpose of the five primary financial statements.

  • Statement of Comprehensive Income 
  • Income Statement 
  • Balance Sheet 
  • Statement of Cash Flows 
  • Statement of Shareholder’s Equity 

Give an example of a profitability, liquidity, and solvency ratio and explain the components and which financial statement would provide the information.