WebJan 12, 2024 · An income statement reports a company’s revenue, expenses and profit or loss during a specific accounting period. Income statements are also known as … WebFeb 5, 2007 · An income statement is a report that shows how much revenue a company earned over a specific time period (usually for a year or some portion of a year). An income statement also shows the costs and expenses associated with earning that revenue. The literal “bottom line” of the statement usually shows the company’s net earnings or losses.

Income Statement: How to Read and Use It - Investopedia

WebJan 18, 2024 · The income statement formula is used to calculate the net income or net loss of a business. It is calculated by subtracting total expenses from total revenues. Total … WebFeb 24, 2024 · An income statement describes how profitable your business is. It shows you how much money flowed into and out of your business over a certain period of time. Further reading: Income Statements vs. Balance … how long are flu symptoms

Income Statement Analysis - The Balance

WebGet the detailed quarterly/annual income statement for NIKE, Inc. (NKE). Find out the revenue, expenses and profit or loss over the last fiscal year. WebAnswer and Explanation: 1. Become a Study.com member to unlock this answer! Create your account. View this answer. The income statement, also known as the statement of profit and loss or P&L, is a financial report that presents a company's revenues, expenses,... See full answer below. WebOct 4, 2024 · The income statement, also known as a profit and loss statement, shows a business’s financial performance during a specific accounting period. The income statement reports the net income by detailing a business’s revenues, gains, expenses, and losses. Put simply, an income statement follows this equation: how long are flood determinations good for