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The standard financial statements in Sage 50 include a report called the standard income 12 period, which provides a monthly breakdown of the current fiscal year from periods 1 to 12. However, it lacks the option to select a custom date range, meaning it can only run for the current period. To work around this limitation, you can create a custom financial statement by saving the report with a new name, such as "My Income 12 Period." This adjustment allows you to view the report with the new title, and it also appears in the report list for future reference.