The statement of comprehensive income shows the results of operations over a period of time, and the balance sheet shows the financial condition of a business at a specific date.

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The statement of comprehensive income (also known as income statement) shows the revenues, expenses, gains, and losses of a business over a period of time (usually a year). On the other hand, the balance sheet shows the assets, liabilities, and equity of a business at a specific date (usually the end of the year). Therefore, the statement of comprehensive income and the balance sheet present different aspects of a company's financial performance and position.

The Statement of Comprehensive Income Shows the Results of Operations