The 3 Most Important Income Statements
The 3 most important financial statements are the income statement, the balance sheet, and the statement of cash flows.
The income statement tells you whether a company made a profit or loss. It’s where you would go to see a company’s sales, expenses, and earnings. You can also use it to calculate a company’s margins.
The balance sheet tells you what a company owns (assets) and what it owes (liabilities). It’s where you’d go to see the company’s cash or inventory balance, or to find out how much debt the company has. The balance sheet also shows the book value of the firm, which is called equity.
The statement of cash flows tells you the sources of the company’s cash and how the company used that cash. Did the company gets its cash from normal business operations, from selling off productive assets, or from borrowing or issuing stock? And where did the company spend that cash? Maybe the company burned through cash in its operations, spent cash to purchase investments, or used cash to pay off debt or buy back stock. #Shorts
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