Why The Income Statement Is Crucial To Your Business

income statement  Subtract the selling and administrative expenses total from the gross margin Doing this will give you the amount of pre-tax operating income  Learning Outcomes The first statement to prepare is the Income Statement Start with your adjusted trial balance and make sure that your trial balance

An income statement begins with money that you have earned from selling something There are several different names given to the money you make selling An income statement shows a company's revenues, expenses and profitability over a period of time It is also sometimes called a profit-and-loss statement

Also known as profit and loss statements, income statements summarize all income and expenses over a given period, including the What is the Income Statement? The income statement presents the financial results of a business for a stated period of time The statement