Breakeven Statement: must reveal when expected revenue from sales is able to pay all expenses.
The main purpose of the Breakeven Statement is to determine the breakeven point.

Profit & Loss Statement (or Account):
aka -- statement of income [wrongly]
statement of earning and retained earning

should state what happened most recently

describe the dollar value of products sold during the time slice selected for reporting

reveal --

income and expenses each venture generates

expended cash used for production

earned cash retained and not disbursed to owners as a dividend

gross profit --

revenue - expenses

income after taxation (net income)

expose perks --

insurance premiums paid --

life insurance

accident

disability
http://pier-23.tripod.com/financial-picturing.html


The second document is the profit and loss (income statement). This shows the company's sales income less all costs and the what's left either a profit or loss.

The third key document is the breakeven or payout and cash flow chart. This is a running P&L. Often it shows losses in the early periods, then a breakeven period and eventually periods of profit.
http://www.freebizplan.org/financial-plan.htm

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Note added at 1 hr (2007-11-17 11:49:41 GMT)
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In fact, the breakeven statement is very similar to the profit & loss statement. It only differs in their purposes.