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Which statement is true concerning an income statement? Group of answer choices The income statement...

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Accounting

Which statement is true concerning an income statement?

Group of answer choices

The income statement summarizes the amount of cash flowing into the business and out of the business.

Net income on the income statement should be equal to the amount of cash on the balance sheet.

The income statement indicates the liquidity of the company on an annual basis.

The income statement shows how much profit the company has earned during a given time period.

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