Write a 500 – 750 word paper that addresses the following topic:

Explain the impact of accounting transactions in financial statements.

Describe the elements and purpose of each financial statement.

Discuss the components and use of financial analysis.

The paper must be formatted according to APA 6th edition guidelines, and you need to use at least one external reference. 3 in-text citations and 1 direct quote that will be less than 40 words.

2 references, 1 will include the reference: Roger H. Hermanson, Michael W. Maher, and James Don Edwards. 2011. Accounting Principles: A Business Perspective, Financial Accounting (Chapters 1-8). Textbook Equity. The 1 direct quote citation(less than 40 words) will need to be from a peer-reviewed source.
550-600 words
Include an annotated bibliography in 6th edition APA.