meducation.com/ext/map/index.html?_con=con&external_browser=0&launchUn=https%2. Gmail Maps Saved Ch 2 20544 General Ledger General Journal Income Statement Requirement Trial Balance St Owners Equity Baland An income statement reports the changes in equity attributable to the operation of the busin Revenues increase equity, and expenses decrease equity. Spade Company Income Statement For Month Ended January 31, 2019 Revenues Fees earned $ 0 Expenses Rent expense 0 Net income Net Income or loss is transferred from the income statement to the