An income statement lists financial projections in the following format: Income includes all revenue streams generated by the business. Cost of goods includes all the costs related to the sale of ...

To help explain things easily, let's consider an apparel manufacturer as an example in outlining the major components of the income statement: Sales. This is the gross revenue generated from the ...

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.