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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 "bottom line" of the statement usually shows the company's net earnings or losses. This tells you how much the company earned or lost over the period.Profit and loss statement is a statement that shows that the revenue of the companies that have been in a specific time period (usually for a year, or as part of the partial year) profit and loss statement also reflects the expenses and costs associated with the creation of revenue. "The bottom line" characters of a command usually shows that the company's net profit or loss.
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