On March 31, 20Y5, the balances of the accounts appearing in the ledger of Vibe Tribe Inc. are as follows: Administrative Expenses $ 191,400 Inventory $ 199,200 Accumulated Dep. - Building 157,140 Notes Payable 45,100 Building 785,700 Office Supplies 16,100 Common Stock 150,000 Retained Earnings 722,200 Cash 74,500 Sales 1,951,800 Cost of Goods Sold 1,073,200 Selling Expenses 314,200 Dividends 38,200 Store Supplies 12,000 Interest Expense 11,500 a. Prepare a multiple-step income statement for the year ended March 31, 20Y5. Enter account decreases and cash outflows as negative amounts.

both are integral parts of a corporate balance sheet. the cash flow statement, or statement of cash flows, measures the sources of a company's cash and its uses of cash over a specific time period. the income statement measures a company's financial performance, such as revenues, expenses, profits or losses over a specific time period (in fact, it's sometimes called a statement of financial performance).

a cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. it captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting items such as depreciation and amortization. the cash flow generally comes from revenue received as a result of business activity, but it may be augmented by funds available as a result of credit. a cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors.

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