Explain briefly the following: income statement, balance sheet and cash flow statement.

1. Income Statement: An income statement, also known as a profit and loss statement, is a financial statement that shows the revenues, expenses, and net income or loss of a business for a specific period. It provides an overview of the company's ability to generate profits by comparing its total revenues to its total expenses. The income statement includes various components such as sales revenue, cost of goods sold, operating expenses, interest income or expense, ________ ___ ______ ____ ___ ______ _____.
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