From Longman Business Dictionaryincome statementˈincome ˌstatement (also operating statement American English)ACCOUNTINGFINANCE a statement showing the amount of money earned and spent in a particular period of time by a companySYNprofit and loss account BrEAccording to the company’s income statement, reported net income of $35 million is down sharply from a record $366 million a year earlier. → statement
