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Re: A deleted message

Thursday, 04/03/2014 3:17:13 AM

Thursday, April 03, 2014 3:17:13 AM

Post# of 380514
Fortunately you are incorrect. The income statement says that it is for the quarter ended 12/31/13. They could have also shown the totals for the year, but they did not. An Income Statement can be for any stated period. The balance sheet must be as of a specific date. It is not for a period of time, but as of a specific date.

For example, assuming you are a calendar year business and it is now January 23rd.

I can present you an income statement for the 23 days ended 1/23/xx and a balance sheet as of 1/23/xx.

This is not IMO. This is fact. I've been doing this for over 45 years. And I'm holding onto my NTEK.