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The standard financial statements in Sage 50 include a report called the Standard Income 12 Period, which displays the current fiscal year data by month from period 1 to 12. However, it does not allow for a date range selection, limiting users to the current period. While you can change the current period to view a previous open year, closed years are not accessible. To enable this functionality, simply save the report under a new name, turning it into a custom financial statement. This process allows you to view and access the modified report in your list of financial statements, which can enhance your financial analysis capabilities.