What is Income Statement | Accounting Knowledge | SQL Accounting

What is income statement? https://www.sql.com.my/ An income statement is a financial statement that shows you how profitable your business was over a given reporting period. It shows your revenue, minus your expenses and losses. An income statement is one of the three (along with balance sheet and statement of cash flows) major financial statements that reports a company's financial performance over a specific accounting period. Net Income = (Total Revenue + Gains) – (Total Expenses + Losses)