[skeeter2020]

If there's a single rule for small business it's "Cash is King". Cashflow is what kills you and the monthly income statement is way more important than your balance sheet.

[mediaman]

This is actually why the balance sheet is more important than the income statement. The income statement can obfuscate what's happening to cash flow. A close study of the balance sheet reveals whether working capital is consuming retained earnings.

[fsckboy]

of course, you could always look at the third leg of the three legged stool, the cash flow statement.