We try to save some of that paycheck for our future. What we save, we invest so that it earns more money for us. The company does the same things on a bigger scale. The company reports the money it makes from selling its products and services and the money it spends to pay its bills. The company sells products and services.
Companies are very different in what they sell.
Many firms sell products. Some products, like shovels, require very little service. For these firms, service is usually limited to taking orders, making timely shipments, and answering a few questions about their products. Other firms sell products that require lots of service, like computer software. There are also companies that sell mostly services, not physical goods.