Video: Income Statement Overview, Format & Examples -

income statement  An Income Statement is a core financial statement that shows a firm's financial performance over a given accounting period You can find it in the company's An income statement or profit and loss account is one of the financial statements of a company and shows the company's revenues and expenses during a

Key Points · An income statement is another name for a profit and loss statement · Revenue minus expenses equals profit or loss · An income statement An income statement records your company's revenue and expenses over a specific time period It shows your company's profit and loss: the

Your income statement follows a linear path, from top line to bottom line Think of the top line as a “rough draft” of the money you've made— An income statement shows · Sales revenue - the amount of money received for selling goods or services · Gross profit