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Income Statement And Balance Sheet Examples. Current liabilities Current liabilities are obligations of a company that are. The balance sheet reports a company's assets, liabilities, and stockholders' equity as of a moment in time. (The other three financial statements report Examples include bond issue costs and certain deferred income taxes.
The income statement shows you how profitable your business is over a given time period.
The income statement and balance sheet report different financial accounting information about your business.
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The following figure shows the lines of connection between income statement accounts and balance sheet accounts. Balance Sheet and Income statement provides two different information. Your balance sheet, income statement and cash flow statement are vital tools to check the health of your business.