An Income statement is a financial statement that shows a company's revenues and expenses over a specific period of time. It includes various types of revenues such as Sales Revenue, Service Revenue, Interest Revenue, and Dividend Revenue. The statement also outlines expenses such as Cost of Goods Sold (COGS), Operating Expenses (including Selling Expenses and Administrative Expenses), and Taxes. The bottom line of the Income statement is Net Income, which is calculated by subtracting Operating Income from Taxes and Interest expenses.
