The iscome statement shows the differ cece between a fimit' income and its conts-ie, its profits-daring a specified period of time. However, not all repomed tsceme cones in the form of cash, and reported costs likewise muy not be coesistent with eash outlays. Therefore, there may be a suberatial difference behween a firm's reported profits and its actal cass tlow for the smene period True False