Income Statement
The income statement is going to have the record of all the revenues and expenses of a company over a period of time. this time is usually a quarter, or a year. For balance sheets, you will see the way company is doing at a specific point in time. for the income statement, it’s over a period of time.
At the end of the income statement, you will have the net income of the company in that period of time.
The income statement can be designed differently based on the company requirements or even the regulatory requirements, but the main idea is that you will have the net income once you subtract the expense and loss from the revenues and gains.
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