Income Statement is a financial statement that measures a company’s financial performance on the specific accounting interval. Financial performance is assessed by giving an index of how the enterprise incurs its profits and expenses via both operating and non-operating activities. Additionally, it shows the world wide web profit or loss incurred on the specific accounting interval, typically over some sort of fiscal quarter or maybe year. Income Statement often known as the “profit and loss statement” or maybe “statement of profits and expense. inches.