The income statementThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... provides a summary of a company’s revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company’s total revenue, the cost of goods sold, gross profit, and operating expenses, among other items. The net income, or bottom line, represents the company’s profit or loss for the period.