My personal observation is that where many people struggle the most mentally is across the three statements (balance sheet, income statement, and cash flows), 1

My personal observation is that where many people struggle the most mentally is across the three statements (balance sheet, income statement, and cash flows), 1) that that balance sheet is point in time and the other two are over some period, but 2) how a record entry effects each of the statements…e.g. if you sell an asset for a gain causing a change in the composition of the balance sheet (asset > cash, reversals of accumulated depreciation etc.) income statement (income in excess of basis) and cash flow (actual cash received)