Which statement summarizes revenues and expenses over a PERIOD of time to show profit or loss?

Explanation

The income statement, also called the profit and loss statement, reports revenue minus expenses over a month, quarter or year and ends in net profit or loss. The balance sheet is a point-in-time snapshot of assets, liabilities and equity. A trial balance is a working list of ledger balances used to check that debits equal credits, not a report of profit. The statement of owner's equity does cover a period, but it explains changes in equity rather than showing how the profit was earned.