Which of the following is NOT primarily found on the income statement?

The correct answer is the item that is not primarily found on the income statement, which is liability. The income statement is a financial document that summarizes a company's revenues and expenses over a specific period. Its primary purpose is to show the profitability of the business by calculating net income, which is derived from total revenues minus total expenses.

Revenue represents the total income generated from operations before any costs or expenses are deducted. Expenses, on the other hand, refer to the costs incurred in generating that revenue, including things like operating expenses, cost of goods sold, and taxes. Finally, net income is the final figure on the income statement, indicating whether the company has made a profit or incurred a loss during that period.

Liabilities, however, are not found on the income statement. They are reported on the balance sheet, which reflects the company's financial position at a given point in time, detailing what the company owes (liabilities) versus what it owns (assets). Thus, liabilities do not pertain to the operational performance measured by the income statement, making it the correct choice in this context.