The income that is generated by providing a service, selling a product, earning interest on investments, renting extra office space, licensing technologies, selling advertising space, or li… See more

For a retail company, one of the main expenses is the cost of goods sold. So, you'll see Cost of Goods Sold broken out into its own section, with Gross Profit calculated … See more

This section is where you include all your operating expenses such as advertising, salaries, rent, utilities, insurance, legal fees, accounting fees, supplies, research and developme… See more

In the multi-step income statement, the operating income is calculated as the Gross Profit minus the total Operating Expenses. In general, interest expense and income tax expense ar… See more