The Income Statement is a
summative report listing the financial results of a company's revenues
and expenses over a specific period of time.

It is different to the balance sheet due to the
fact that it shows how much ancompany has earned and spent in a specific
period of time, rather than a particular point in time. The statement is often
used at the end of a business period (either monthly, quarterly or annually).
This statement can also be used to evaluate financial performance over previous
years to provide data and to evaluate the year over performance.

This basic income statement template is easily
editable, allowing you to change the line item descriptions and is set to
automatically tabulate your figures.