what is listed on a income statement
An income statement is a report that shows how much revenue a company earned over a specific time period (usually for a year or some portion of a year). An income statement also shows the costs and expenses associated with earning that revenue. The literal âbottom lineâ of the statement usually shows the companyâs net earnings or losses. This tells you how much the company earned or lost over the period. Income statements also report earnings per share (or âEPSâ).
The income statement presents a summary of the revenues, gains, expenses, losses, and net income or net loss of an entity for the period. This statement is similar to a moving picture of the entity's operations during the time period specified.