Posted: March 9th, 2023

The income statement is a financial statement that reports

The income statement is a financial statement that reports the revenues and expenses of a business enterprise for an accounting period. Many investors tend to focus on the income statement when making an investment decision.Based on your readings for this week:Answer the following:Is using the income statement to guide investment decisions an informative or ineffective practice? Justify your answer.With these thoughts in mind:Post a brief statement by Day 3 that expresses your thoughts on the uses of the income statement for making financial decisions. The length of your response(s) should be a minimum of 150 words.please put in in apa format thank you.Please read and view this week's Learning Resources before you complete the Discussion.ReadingsCourse Text: Understanding Financial StatementsChapter 3, "Income Statement and Statement of Stockholders' Equity"In Chapter 3, the authors focus on the income statement (multiple-step and single-step formats) and items contained within, such as net sales, gross income, operating income, operating expenses, operating profit, and net earnings. The authors then focus on the statement of stockholders' equity, which serves as an important link between the balance sheet and the income statement.WebsitesPrentice Hall. (2012). Companion Website for Understanding Financial Statements, 10th ed. Retrieved fromhttp://wps.prenhall.com/bp_fraser_financial_10/This website serves as a companion to the course text, Understanding Financial Statements. It provides various student resources, including multiple-choice and true/false tests, PowerPoint presentations, Internet links, and more for each chapter.

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