2006-08-14 05:02:13 · 2 answers · asked by redcager_2 1 in Business & Finance ➔ Other - Business & Finance
The income statement is one of the 3 crucial financial statements in any business.
The income statement shows where and how much money is "earned" from business operations, as well as the costs associated with that activity.
The balance sheet is a snapshot of a companies financial picture on one particular day, listing all assets and liabilities.
Lastly, the Statement of Cash Flows is the 3rd big one, that shows how actual "cash" was received and spent, and includes cash from financing.
I'm including a link below with an article about how to read financial statements.
2006-08-14 06:32:23 · answer #1 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
shows the sources of income and the amount
2006-08-14 05:31:12 · answer #2 · answered by Borna F 2 · 0⤊ 0⤋