Respond to each classmate 100 words a piece Classmate 1 The income statement shows the income and expenses of an organization that produces a net income of financial gain or loss. The finding of fin
The income statement shows the income and expenses of an organization that produces a net income of financial gain or loss. The finding of financial gain or loss is reported on the company’s statement of changes in equity. This helps the organization keep track of their business progress and improve on areas of weakness in other to grow the business.
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