What is financial statement?. What is income statement?

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Financial statement is a document that summarizes a company's financial activities and position. Income statement shows company's revenues and expenses over a period of time.

Financial statement is a report that provides an overview of a company's financial performance.
It includes balance sheet, income statement, cash flow statement, and statement of changes in equity.
Income statement shows company's revenues, expenses, and profits or losses over a specific period of time.
It helps investors, creditors, and analysts to evaluate the financial health of a company.
Example: A company's financial statement may show its total assets, liabilities, and equity.
Example: An income statement may show the company's revenue from sales, cost of goods sold, and net income.

What is financial statement?. What is income statement?

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