Income Statement - The income statement is a financial statement that shows the company's profitability. It starts with the revenue line and works its way down to net income after deducting various expenses. The income statement is for a specific time period, such as a quarter or year.
Balance Sheet - The balance sheet does not cover the full period, but rather provides a snapshot of the company at a given point in time, such as the end of the quarter or year. The number of assets and liabilities must always match the sum of equity and liabilities.
Cash Flow Statement - The statement of cash flows is a magnified version of the cash account on the balance sheet that accounts for the entire period, reconciling the cash balance at the beginning and end of the period.
It is usually calculated by taking net income and adjusting it for different non-expenses and non-cash revenue to get at cash from operations. The cash from investment and financing is then added to the cash flow from operations to calculate the net cash change for the year.