Question

Five Below's cash balance decreased from $268,783,000 in fiscal year 2020 to $64,973,000 in fiscal year 2021. Select the financial statement(s) where you would find a company's prior year cash balance and current year cash balance. Check all that apply.

a) Income Statement
b) Statement of Stockholders' Equity
c) Statement of Cash Flows
d) Balance Sheet

Answer 1

The company's prior year and current year cash balances can be found on the Statement of Cash Flows and the Balance Sheet, which provide a snapshot of financial positions and cash flow activities.

Step-by-step explanation:

The financial statement(s) where you would find a company's prior year cash balance and current year cash balance are the Statement of Cash Flows and the Balance Sheet. The income statement does not provide information about cash balances, and the statement of stockholders' equity does not typically include cash balances either. The balance sheet provides a snapshot of a company’s financial position at a specific point in time, including its cash balance, while the statement of cash flows provides information on how cash is generated and used over a period of time.