Rhode Island Financial Statement is a document that provides a snapshot of the financial position of a business, organization, or individual. It includes a balance sheet, income statement, statement of cash flows, and notes to the financial statements. The financial statement provides a comprehensive overview of an entity's financial activities over a given period of time and allows for comparison of actual financial performance to budgets and forecasts. The types of Rhode Island Financial Statement include: • Cash Flow Statement: This statement shows the cash inflows and outflows over a given period of time and is used to measure the liquidity of an entity. • Income Statement: This statement shows the net income and expenses over a given period of time and is used to measure the profitability of an entity. • Balance Sheet: This statement shows the assets, liabilities, and equity of an entity at a given point in time and is used to measure the financial health of an entity. • Statement of Owner Equity: This statement shows the changes in owner equity over a given period of time and is used to measure the return on investment for owners. • Notes to the Financial Statements: This statement provides additional information about the financial statements and is used to provide transparency to the financial statements.