When comparing a retail business to a service business,the financial statement that changes the most is the

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The income statement is the financial statement that shows the revenue, expenses, and net income (or net loss) of a business during a specific period. In a retail business, the revenue and expenses are primarily derived from the sale of physical products, while in a service business, the revenue and expenses are mostly related to the provision of intangible services. Therefore, the income statement of a retail business and a service business can be significantly different from each other.

When Comparing a Retail Business to a Service Business,the Financial