The income statement displays revenues earned and expenses incurred over a specified period of time due to earnings activities.

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The income statement shows the financial performance of a company over a certain period of time, typically a month, quarter, or year. It displays the revenues earned from sales, investments, and other sources, as well as the expenses incurred from operations, investments, and other activities. The difference between revenues and expenses is the net income or loss for the period.

The Income Statement Displays Revenues Earned and Expenses Incurred Over