An income statement, which shows your revenue after expenses and losses, tells a story about the performance of your business over a certain time period, such as monthly, quarterly, or annually. Once referred to as a profit-and-loss statement, an income statement typically includes revenue or sales, cost of goods sold, expenses, gross profits, taxes, net earnings, and earnings before taxes. If you want a detailed analysis of your business's performance, the income statement is the report you need.
Original Article Source Credits: business.com, https://www.business.com
Article Written By: Donna Fuscaldo
Original Article Posted on: Feb 03, 2021
Link to Original Article: https://www.business.com/articles/business-income-statement