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Income Statement
A financial statement that shows a company's revenues and expenses over a specified period, resulting in net profit or loss.
Balance Sheet
A financial summary showing a company's assets, liabilities, and equity from shareholders at a designated time.
Prepared
The state of being ready for a specific event, action, or process, often involving prior planning or setup.
Unearned Fees
Income received by a company for services yet to be performed or goods to be delivered, recognized as a liability on the balance sheet until earned.