What is shown by the Income Statement?

Profit or loss for a certain period

The income statement, also known as the profit and loss (P&L) statement, is one of the three primary financial statements used by companies to report their financial performance over a specific period of time, typically a quarter or a year. It provides a summary of a company's revenues, expenses, and profits (or losses) during that time frame. The income statement is important for investors, creditors, and other stakeholders to assess the company's profitability and operating efficiency.