Answer:
Revenues
Expenses
Net Income
Step-by-step explanation:
The income statement includes the following items:
- Revenues: Revenues represent the income earned by a company from its primary operations. They can come from the sale of goods or services.
- Expenses: Expenses are the costs incurred by a company in its day-to-day operations. This includes expenses such as salaries, rent, utilities, and raw materials.
- Net Income: Net income is the final result of subtracting the expenses from the revenues. It represents the company's profit after all expenses have been accounted for.
These items are essential components of an income statement as they provide information about a company's financial performance over a specific period of time. Other items like cash accounts, payable, and common stock are not typically included in an income statement. Instead, they may be reported on the balance sheet or other financial statements.