Which of the following does the income statement disclose ne

Which of the following does the income statement disclose?

net earnings (net income) of a firm at a point in time.

resources and equities of a firm for a period of time.

net earnings (net income) of a firm for a period of time.

resources and equities of a firm at a point in time.

Solution

Income statement disclose net income of a firm for a period of time.

Balance sheet disclose resorces and equites of a firm at a point of time.

Hence,

Income statement disclose

net earnings (net income) of a firm for a period of time.