S1-11. (Learning Objective 4: Identify appropriate financial statement use) For each of thefollowing questions, indicate which financial statement would most likely be used to providethe information. Use the following abbreviations: Income statement (I), Statement of retainedearnings (R), Balance sheet (B), and Statement of cash flows (C).a. What were the company’s net sales for the year?b. What assets does the company have?c. How much cash was generated by operating activities?d. Why did the company’s retained earnings change during the year?e. How much in total debt does the company have?f. How well did the company perform during the year?g. Did the company declare a dividend during the year?h. How much cash did the company generate and spend during the year?i. What is the company’s financial position at the end of the year?
S1-11. (Learning Objective 4: Identify appropriate financial statement use) For each of the
following questions, indicate which financial statement would most likely be used to provide
the information. Use the following abbreviations: Income statement (I), Statement of
earnings
a. What were the company’s net sales for the year?
b. What assets does the company have?
c. How much cash was generated by operating activities?
d. Why did the company’s retained earnings change during the year?
e. How much in total debt does the company have?
f. How well did the company perform during the year?
g. Did the company declare a dividend during the year?
h. How much cash did the company generate and spend during the year?
i. What is the company’s financial position at the end of the year?
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