The income statement is a measure of an entity's economic performance for a period of time.

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The income statement, also known as the profit and loss statement, shows a company's revenues, expenses, and net income or loss for a specific period of time, usually a quarter or a year. It is one of the primary financial statements used by investors, analysts, and managers to assess a company's financial health and profitability.

The Income Statement Is a Measure of an Entity's Economic