Which of the following is a requirement for a complete set of financial statements?

A complete set of financial statements must include several key components to provide a full picture of an entity’s financial position and performance. Among these components, a statement of shareholders' equity is essential. This statement illustrates the changes in the equity section of the balance sheet over a period, detailing contributions from owners, distributions to shareholders, and other comprehensive income.

The income statement provides insight into a company's profitability, while the cash flow statement outlines how cash is generated and used in operations, investing, and financing activities. However, merely having an income statement alone or just a cash flow statement does not meet the requirements for completeness. Similarly, a report on market trends does not form part of a complete financial statement set, as it focuses on external factors affecting a business rather than its internal financial performance and position.

Thus, the inclusion of a statement of shareholders' equity alongside other financial statements ensures stakeholders receive comprehensive information to assess the entity’s financial health and decisions over a reporting period.