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Table of ContentsUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___FORM 10Q ___ (Mark One) 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 summarized view of the financial position and results of operations of a parent company and its subsidiaries, presented in a condensed format.
Entities that are publicly traded or that have subsidiaries that require consolidation are typically required to file condensed consolidated statements, especially those that follow accounting standards such as GAAP or IFRS.
To fill out condensed consolidated statements, companies must aggregate the financial results of the parent and its subsidiaries, eliminate intercompany transactions, and summarize the results according to applicable accounting standards.
The purpose of condensed consolidated statements is to provide stakeholders with an overview of the financial health and performance of a group of companies under common control, allowing for clearer financial analysis.
Condensed consolidated statements should report the consolidated total assets, total liabilities, revenue, and net income, along with other key financial metrics, while ensuring intercompany transactions are eliminated.
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