Income statement shows the result of operating for a period of time. It is usually called operating statement (OS) or the statement of operations. It shows how well the organization is performing its operations. The terms revenue expenses and profit should be somewhat familiar. Revenue is the inflow of assets and return for the services perform and product delivered during the peri... https://www.expertsmind.com/accounting-assignment-help/income-statements-homework-assignment-help.aspx