Question

Exercise 3. Use correct verbs from the list (mind the forms). Read the text
and make a summary of its contents.
The purpose of the income statement is to___ — analyze
your financial performance for the year that ___ on — be
your balance sheet date. It ___ you if your business is — cost
making money. To do this the income statement ___ — earn
three kinds of information. — end
— find
Revenue shows what you ___ . It is the total value
— include
of the goods you ___ , services you ___ , and other — make
kinds of income you ___ from your business during — measure
the year. — produce
Expenses are what it ___ you to earn the revenue. — provide
They ___ the costs of the supplies and services you — tell
___ to earn the revenue, as well as depreciation. — subtract
The difference between revenue and expenses ___ — use
your net income. Thus, on the income statement, you
___ your expenses from your revenue to ___ your net
profit.

Answer 1

Ответ:

The text explains the purpose and content of an income statement, which is used to analyze the financial performance of a business over the course of a year. The income statement provides three types of information: revenue, expenses, and net income. Revenue is the total value of goods, services, and other income produced by the business, while expenses include the costs of supplies, services, and depreciation. The difference between revenue and expenses results in the net income, which is the profit made by the business. To calculate the net income, expenses are subtracted from revenue on the income statement.