Which financial statement shows the revenues and expenses over a specific period?

The income statement is the financial statement that outlines revenues and expenses over a specific period of time, typically a month, quarter, or year. It is designed to provide a clear view of a company’s financial performance by summarizing how much money was made (revenues) and how much was spent (expenses) during that time frame. The difference between these two figures results in either a profit or a loss for the period, which is crucial for assessing the operational efficiency and profitability of an organization.

In contrast, the balance sheet presents a snapshot of a company's assets, liabilities, and equity at a particular moment in time, reflecting its financial position rather than its performance over a duration. The cash flow statement tracks the cash inflows and outflows during a specific period, focusing on the company’s liquidity and cash management rather than on profitability. The equity statement details changes in equity, typically over a period, but does not encompass comprehensive revenue and expense data. Thus, the income statement is distinct in its purpose and content, making it the correct answer to the question.