Income Statement And Balance Sheet Of A Company

The balance sheet shows a company s total value while the income statement shows whether a company is generating a profit or a loss.
Income statement and balance sheet of a company. The balance sheet and the income statement are two of the three major financial statements that. The balance sheet is like a photo of your bank account and. For example steam had a profitable year from the income statement and their assets outweigh their liabilities from the balance sheet which puts them in a strong financial position. Income statement is one of the financial statements of the company which provides the summary of all the revenues and the expenses over the time period in order to ascertain the profit or loss of the company whereas balance sheet is one of the financial statements of the company which presents the shareholders equity liabilities and the.
The balance sheet and income statement are both part of a suite of financial statements that tell the story of a business s history. How to read and analyze financial. Income statement and balance sheet differences.