The income statement measures the company's financial position at the end of the year.

Name: The income statement measures the company's financial position at the end of the year.
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The income statement measures the company's financial performance over a period of time, typically a year, rather than its financial position at the end of the year. The balance sheet is the financial statement that provides information about a company's financial position at a specific point in time.

The Income Statement Measures the Company's Financial Position at the End