Which of the following are considered as main financial statements.  1. Balance Sheets 2. Income Statements 3. Cash Flow Statements 4. Fund Flow Statement  5. The statement of shareholders' equity

• Balance Sheet: The balance sheet shows all the assets owned by the concern, all the obligations or liabilities payable to outsiders or creditors and claims of the owners on a particular date.  • Profit and Loss: The Statement of profit and loss is prepared for a specific period to determine the operational results of an undertaking. It is a statement of revenue earned and the expenses incurred for earning the revenue. • Cash Flow Statement: It shows inflows and outflows of the cash and cash equivalents.  • The statement of shareholders' equity: It highlights the changes in value to stockholders' or shareholders' equity, or ownership interest in a company, from the beginning of a given accounting period to the end of that period.  • Notes to accounts