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  • Jun 6, 2011, 11:51 AM
    violetc
    Income Statement
    Does an income statement summarize changes in the owner's capital for the period?
  • Jun 6, 2011, 12:19 PM
    Just Looking

    An Income Statement reports the net income or loss for a period. A "Statement of Changes in Owner's Equity" summarizes the changes in owner's capital.

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