A summary of cash flows for Evelyn's Event Planning for the year ended December 31 is shown below.

Cash Flows

The inflows and outflows of cash and cash equivalents, representing the operational, investing, and financing activities of a business.

Year Ended

Refers to the end of a 12-month financial accounting period or fiscal year for an organization.

Understand and explain the components and purposes of basic financial statements such as the income statement, statement of owner's equity, balance sheet, and statement of cash flows.
Explain the interrelationship among the income statement, statement of owner's equity, balance sheet, and statement of cash flows.

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Learning Objectives

Understand and explain the components and purposes of basic financial statements such as the income statement, statement of owner's equity, balance sheet, and statement of cash flows.
Explain the interrelationship among the income statement, statement of owner's equity, balance sheet, and statement of cash flows.