Also referred to as a profit and loss statement. By combining these elements, the income statement illustrates just how much income your company makes or loses during the year by subtracting cost ...

Learn about our editorial policies The cash flow statement and the income ... labor but excludes overhead costs like distribution, sales, or marketing) Net income: the bottom line, representing ...

The income statement is a financial document that demonstrates the financial performance of a business based on its income and how this has changed over a period of time, usually 12 months.