What are the time dimensions of the income statement, the balance sheet, and the statement of cash flows?  Hint: Are they videos or still pictures?  Explain.

The income statement is like a video: It calculates a firm's profitability over a period of time (that can be a week, a month, a year, or any other time period).

The balance sheet is similar to a still photograph. The balance sheet depicts the firm's assets, liabilities, and equity at a specific point in time.

This cash flow statement similar to the income statement can be compared to a video: It depicts how cash flows into and out of a company over a specific period of time.