An income statement shows the income and expenses of a company over a specified period of time. Investors and business managers use the income statement t… See more

Simple/Basic Income Statement
A simple or basic income statement may only include income, expenses, and net profit (or loss). For most small businesses, a simple in… See more

The income statement is a fairly simple document that is used to show the company’s overall financial performance. According to GAAP, it should be clear and concise, list… See more

There are two primary ways to prepare an income statement. The single-step income statement is simple to prepare and offers an overview of the company’s financial position. Th… See more