Final answer:
The Income Statement is the financial statement that shows a company's profit for a specific time period, such as quarterly or annually. Using revenues and expenses, the Income Statement reveals the net income or loss.
Step-by-step explanation:
The financial statement that answers the question, "What is my profit for (time period)?" is the c. Income Statement. This statement provides a summary of a company's revenues and expenses over a specific period, typically a month, quarter, or year, ultimately showing the net income or loss (profit). For example, if a firm had sales revenue of $1 million last year and incurred expenses of $600,000 on labor, $150,000 on capital, and $200,000 on materials, the firm's accounting profit would be calculated by subtracting total expenses from total revenues, leading to a profit of $50,000.