Fundamentals of Corporate Finance, Ch. 2: Financial Statements, Taxes, and Cash Flow

Please answer the questions below using Fundamentals of Corporate Finance, Ch.2: Financial Statements, Taxes, and Cash Flow with a minimum of 75 of your own words. When answering these questions get into more depth by relating it to your life experiences, explain why you think that this topic is important, or imagine how knowing more about this topic will help you in your life and in your career? Use your own words and do not plagiarize other writer's work. Make sure you reference and put any quotes in quotation marks. 

1.  Explain what the section on pages 21-25, "The Balance Sheet" has to do with finance for business today. 

2.  Explain what the section on pages 25-29, "The Income Statement" has to do with finance for business today.  

3.  Explain what the section on pages 29-32, "Taxes" has to do with finance for business today.