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The standard income 12 period report in Sage 50 provides a monthly breakdown of the current fiscal year, displaying periods 1 through 12. However, it does not allow users to select a specific date range, limiting the report to the current period only. To analyze a prior fiscal year, users can change the current period to an open year and run the report for that year. Alternatively, users can create a custom financial statement by clicking the save button while viewing the report, naming it (e.g., "my income 12 period"), which allows for easy access and viewing in the report list.