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How is the income statement linked to the balance sheet?

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Question added by Madan Khadka , Accounting Manager , P
Date Posted: 2017/02/26
Suresh Sharma
by Suresh Sharma , Senior Audit Partner , S. Suresh & Associates, Chartered Accountants

The resultant of the Income Statement, Net profit after Tax, is added up to the Reserve & Surplus, the portion of Equity in the Balance Sheet. 

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