See how we rate investing products to write unbiased product reviews. An income statement is one of three major financial statements used to evaluate the health of a company, along with the ...

A written report of the financial condition of a firm. Financial statements include the balance sheet, income statement, statement of changes in net worth and statement of cash flow. The first ...

The equation for working out gross profit: Revenue – Cost of sales = Gross profit Expenses (overheads) – these are the costs that do not change as production increases or decreases. This ...

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 ...