Simple/Basic Income Statement
A simple or basic income statement may only include income, expenses, and net profit (or loss). For most small businesses, a simple in… See more

The income statement is a fairly simple document that is used to show the company’s overall … See more

There are two primary ways to prepare an income statement. The single-step income statement is simple to prepare and offers an overview of the company’s financial position. Th… See more

What is the order of the subtotals that appear on a multi-step income statement? The subtotals should appear in the following order: 1. Gross profit 2. Operating income 3. … See more