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ACC 290 Week 2 Learning Team Learning Team ReflectionLearning Team Reflection Week 2ACC/290Learning Team Reflection Week 2There are four basic financial statements that businesses use in conducting business: income statement, retained earnings statement, balance sheet, and statement of cash flows. Income statement pertains to revenues and expenses of a company. Retained earnings statement is a summary of the adjusted retained earnings that occurred for a specific time. A balance sheet reports the assets, liabilities, and stockholders equity of a business at a specific date (U

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