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Table of ContentsUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___ FORM 10Q ___ (Mark One)x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
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Condensed consolidated statements are financial statements that provide a summary of the financial position and performance of a parent company and its subsidiaries, presented in a concise format.
Public companies and certain private companies that meet specific criteria, including size and number of subsidiaries, are typically required to file condensed consolidated statements.
To fill out condensed consolidated statements, companies must aggregate the financial results of the parent and all subsidiaries, ensuring that intercompany transactions are eliminated, and present the summarized information in accordance with applicable accounting standards.
The purpose of condensed consolidated statements is to provide stakeholders with an overview of a company's financial health and performance, facilitating informed decision-making while presenting a simplified snapshot of financial data.
Condensed consolidated statements typically report on assets, liabilities, equity, revenues, expenses, and net income, along with cash flows and other relevant financial metrics, depending on regulatory requirements.
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