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Income Statement
A financial statement that shows a company's revenues and expenses over a specific period of time, resulting in net income or loss.
Limited Liability
A legal structure for a business where the owners' personal assets are protected from the company's debts and liabilities.
Shareholders
Individuals or entities that own shares in a corporation, giving them certain rights such as voting on important company decisions.
Stockholders' Equity
Represents the owners' interest in a company, calculated as the difference between total assets and total liabilities.
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