Description
In a two-(excluding the title and reference pages), explain the purpose of an income statement and how it reflects the firm’s financial status. Include important points that an analyst would use in assessing the financial condition of the company. Also, analyze Ford Motor Company’s income statement from its 2012 Annual Report (Links to an external site.)Links to an external site..
Explanation & Answer
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Running head: INCOME STATEMENT
1
Income Statement
Student’ Name
Institutional Affiliation
Date
INCOME STATEMENT
2
Introduction
Owners of small businesses use a lot of their time looking for customers as well as
managing the work of their staffs. More significant firms also spend a lot of their time on similar
subjects. However, the aim of all both of them is to make considerable profits as well as ensuring
the growth of their firms. The primary responsibility of firm managers is ensuring that their firms
have a goal that is clear enough towards their profitability and growth. The goal should also be
able always to keep the firms on the track of their objective. In most cases, the best way to check
the performance of a particular firm is by the use of its income statement and balance sheet
(Financial Statement Reporting: The Income Statement, 2015). This paper, therefore, discusses the
applic...
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