g Financial statements are linked within and across periods in that a) The income statement and the balance sheet are linked via retained earnings b) The statement of cash flows is linked to the income statement as net income is a component of operating cash flows c) The statement of cash flows is linked to the balance sheet as the change in the balance sheet cash account reflects the net cash inflows and outflows for the period d) All of the above e) None of the above

Financial statements are linked within and across periods in that

d) All of the above.

Explanation:

The linkage of all the financial statements can be traced to how they share interconnected information about the financial position and performance of an entity.  The three more prominent financial statements include the income statement for the period, the statement of cash flows, and the balance sheet.  While the income statement shows the financial performance by determining the profitability, the statement of cash flows concentrates on the inflow and outflow of cash, and the balance sheet shows the financial position, disclosing the assets, liabilities, and equity balances.

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