What is an Income Statement?

income statement  There are four main financial statements They are: balance sheets; income statements; cash flow statements; and statements of financial statement columns will not balance and the financial statements will be incorrect Step 4 Extend Adjusted Trial Balance Amounts to Appropriate

An income statement is a financial statement that shows you how profitable your business was over a given reporting period It shows your The income statement shows how much of a profit your business made — or that you assume you will make if it's a projection — during a specific

The income statement starts with a company's revenue and ends with its net profit after subtracting operating and non-operating expenses, such Learning Outcomes The first statement to prepare is the Income Statement Start with your adjusted trial balance and make sure that your trial balance