Final answer:
The impact of the note on Lemoyne Sports Authority's financial statements would depend on the information contained in the note, and could potentially affect the financial position, results of operations, or cash flows of the company.
Step-by-step explanation:
The impact of the note on Lemoyne Sports Authority's financial statements would depend on the information contained in the note. A note is an additional disclosure in financial statements that provides supplementary information about an item or event. It can provide details about significant accounting policies, contingencies, or other important information.
If the note contains information that has a material impact on the financial statements, such as a major liability or a significant event, it would need to be appropriately disclosed and could potentially affect the financial position, results of operations, or cash flows of Lemoyne Sports Authority.
For example, if the note discloses a legal settlement that resulted in a large liability for the company, it would likely have an impact on the balance sheet and potentially the income statement. If the note discloses a change in accounting policy that affects revenue recognition, it could impact the company's reported revenues and profits.