What financial statement summarizes the amount of revenues earned and expenses incurred over a period?

The financial statement that summarizes the amount of revenues earned and expenses incurred over a specific period is the Income Statement. This statement provides insight into a company's financial performance, showing how much money the company has made from its operations, as well as the costs associated with generating that income. The bottom line of the Income Statement reflects the net profit or loss for the period, which is crucial for stakeholders to assess the company's profitability.

Other statements serve different purposes: the Annual Assessment Roll is related to property assessments and taxation; the Statement of Cash Flows focuses on the inflow and outflow of cash rather than revenues and expenses; and the Balance Sheet provides a snapshot of a company’s assets, liabilities, and equity at a specific moment in time. Each of these statements is essential but serves different aspects of financial reporting, making the Income Statement the clear choice for summarizing revenues and expenses over a defined period.