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What is included in income statement?

Income statement is a financial report that tells the story of a company's financial performance over a period of time. It is a report that shows how much revenue a company has earned over a period of time (usually a year or part of a year).

A profit and loss statement is a financial statement showing the income and expenses of a business. It also shows whether the company made a profit or loss in a given period. A profit and loss statement along with a balance sheet and cash flow statement will help you understand the financial health of your business.

The income statement is one of the core financial statements of a company, showing profit and loss over a period of time. Profit and loss is determined by subtracting all revenue and subtracting all expenses from operating and non-operating activities.