Income Statement

Income statement is one the three important financial statements used for reporting a company’s financial performance over a specific accounting period, with the other key statements being in balance sheet and statement of cash flows. The income statement is also called as “ profit or loss statement “ or “statement of operations”. Income statement is a report made by company management that shows the revenue, expenses, and net income or loss for a period. This could be monthly, quarterly, semi-annually, or annually.

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