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Financial Statement Differentiation PaperNameACC/561DateInstructorFinancial Statement Differentiation PaperAn organizations ability to decipher information from financial statements is very important, an organization would need to know things like how much cash the company has on hand to meet immediate needs or unforeseen demands, how leveraged a company is with its debt and equity, and if the company is retaining enough money from its income to reinvest in the company or pay dividends to investors. Let's start with a description of the income statement, retained earnings statement, balance sheet, and statement of cash flows.Income StatementThe income statement focuses on reporting the success or failure of a company's operations over a period of time, the income statement list revenues and then expenses within the statement, net income or loss is then determined by subtracting expenses from revenues.Retained EarningsThe retained earnings statement focuses on how much the retained earnings where for a specific period and the causes of these changes. Retained earnings are reached by taking net income and deducting dividends from this amount with the result being t

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