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What is an Income Statement?
Success IndicatorThe income statement describes how successful the operations of the business are. The main objective is to make a profit, and the statement displays the extent to which it has been successful.
FormatTypically companies display their income statement in a particular format. The revenues made by the business appear at the top, and the costs involved in generating that revenue just below. Revenue – Costs = Profit, therefore profit/loss is displayed at the bottom of the report.
An example of an Income Statement
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