Which financial statement answers the following question: How well did the company perform during the year?
A)statement of cash flows
B)income statement
C)statement of retained earnings
D)balance sheet

Question

Quizplus · Accepted Answer

The income statement shows a company's revenue and expenses for a specific period and calculates the net income or loss. This provides information on how well the company performed during the year in terms of profitability.

Which Financial Statement Answers the Following Question: How Well Did