Final answer:
The income statement provides information on a company's revenues, expenses, and net income for a specific period of time.
Step-by-step explanation:
The income statement data for Winthrop Company for the two recent years ended December 31 can be found in the company's financial statements. The income statement, also known as the statement of operations or profit and loss statement, provides information about a company's revenues, expenses, and net income for a specific period of time.
It typically includes line items such as sales revenue, cost of goods sold, operating expenses, and other income or expenses. By reviewing the income statements for the two recent years, you can assess the company's financial performance and identify any trends or changes over time.
For example, the income statement may show an increase in sales revenue from one year to another, indicating growth in the company's sales. It may also reveal an increase in expenses, which could impact the company's profitability.