166.Prepare a statement of retained earnings for the current year ended March 31. 167.Prepare a balance sheet for the current year ended March 31. 168.A summary of cash flows for Linda's Design...

166.Prepare a statement of retained earnings for the current year ended March 31.

167.Prepare a balance sheet for the current year ended March 31.

168.A summary of cash flows for Linda's Design Services for the year ended December 31 is shown below.

Cash receipts:

Cash received from customers$83,990

Cash received from sale of stock25,000

Cash payments:

Cash paid for expenses$27,000

Cash paid for land47,000

Cash paid for supplies410

Dividends5,000

The cash balance as of January 1$40,600

Prepare a statement of cash flows for Linda's Design Services for the year ended December 31.

169.What information does the income statement give to business users?