Which of the following is NOT a part of a financial statement?

The annual report is typically a comprehensive document that includes financial statements along with other important information about a company's performance, strategy, and market conditions. It is not categorized as a specific financial statement in the way that a balance sheet, income statement, or statement of retained earnings are.

On the other hand, the balance sheet provides a snapshot of a company’s assets, liabilities, and shareholders' equity at a specific point in time. The income statement summarizes the company's revenues and expenses over a specific period, showing profitability. The statement of retained earnings details changes in the retained earnings component of shareholder equity during a particular accounting period, reflecting profits retained for reinvestment in the business instead of being distributed as dividends. These three are standard components of financial reporting directly related to financial performance and position. Thus, the annual report is more of an overarching document rather than a distinct financial statement, making it the correct answer in this context.