Economics Stock Market Questions
The income statement, also known as the profit and loss statement, is a financial statement that provides a summary of a company's revenues, expenses, and net income over a specific period of time, typically a quarter or a year. It shows how much money a company has generated from its operations, as well as the costs and expenses incurred to generate that revenue. The income statement is an important tool for investors and analysts to assess a company's profitability and financial performance.