The income statement is the financial statement that measures the success of a companys operations for a given period of time. Discuss the uses and limitations of an income statement. The two formats of the income statement are the single-step income statement and the multiple-step income statement. Please compare and contrast these two methods. Please avoid the respond icon at this introductory announcement. Instead, please click on the "Respond" icon on one of the messages (below) so that the discussion will be "threaded