Answer:
A. income statement
Explanation:
The total revenues and total expenditures are reported in the income statement.
If the total income exceeds total expenditure then the company earns net income And if the total income is below the total expenditure then the company has a net loss
In mathematically,
Net income = Total revenues - total expenses
OR
Net loss = Total expenses - total revenues
This net income or net loss would be expressed in the retained earnings account statement.
