Which financial statement provides details about a company's revenues and expenses?

The income statement is the financial statement that specifically provides detailed information regarding a company's revenues and expenses over a particular period. This document summarizes how much money a company has earned (revenues) and how much it has spent (expenses), ultimately showing the net profit or loss for that period. It allows stakeholders to assess the company’s operational performance and profitability, making it a crucial tool for decision-making.

In contrast, the balance sheet provides a snapshot of a company's assets, liabilities, and equity at a specific point in time, giving insight into its financial position rather than its performance over a period. The cash flow statement tracks the flow of cash in and out of the business, detailing how cash is generated and used in operating, investing, and financing activities. The shareholder equity statement outlines changes in equity accounts, showing how profits are retained or distributed to shareholders but does not cover the details of revenues and expenses directly.