Motley Fool analyst Anand Chokkavelu answers the question: What are financial statements?

These include three statements: the income statment, the balance sheet, and the statement of cash flows. Each statement provides a different glimpse into a company's financial health, but all of them are very important. A company's income statement can be very strong, but if its balance sheet is weak, as was the case with many big financial institutions such as ´╗┐Bank of America´╗┐ just a few years ago, then investors may be in for a rough ride.

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