The income statement is one of three key financial statements used by all companies, from small businesses to large corporations. While income statements may seem overwhelming at first, they are an essential part of doing business, and you will soon appreciate the valuable information they provide for your company. When utilized together, the income statement, balance sheet, and statement of cash flows provide a clear picture of your company’s overall financial status, serving as helpful tools for analysis, planning, and decision-making. Click here to read more.