What items are typically included in a comprehensive income statement?

A comprehensive income statement includes a broad range of items that reflect all revenues, expenses, gains, and losses incurred by an entity during a specific reporting period, ultimately affecting the company's equity.

The reason why the correct answer is that it encompasses income, expenses, and other comprehensive income items is that a comprehensive income statement goes beyond just the net income derived from regular business operations. In addition to traditional line items found in an income statement, such as sales revenue and operating expenses, it incorporates other comprehensive income (OCI) items. OCI includes revenues, expenses, gains, and losses that are not included in net income but are still recognized in equity until realized, like unrealized gains or losses on certain investments or foreign currency translation adjustments.

This comprehensive approach provides stakeholders with a complete overview of all factors that influence a company's equity during the reporting period, making it a valuable tool for assessing overall financial performance and not just operational results.