"a company's finances and operations are integrally connected"
"first,finance statements are an important window on reality;second,profits do not equal cash flow"
"Net income ——net profit or bottom line operation income——profit realized from day-to-day operations excluding taxes,interest income and expense,and what are known as extraordinary items. Pro forma earnings——operating earnings,core earnings,or ongoing earnings,are total revenues less total expenses,o"
"Return on equity(ROE)=Net income/Shareholders' equity"