An income statement is one of the three major financial statements that businesses issue. Learn how it is used to track revenue, expenses, gains, and losses.

What Is the Income (Profit and Loss) Statement? A company's income statement details its revenue and expenses to demonstrate profitability for a period. For ...

Learn what an income statement is, its key components (revenue, expenses, profit), and why it's important for financial analysis.

Net Income Example: Apple (Nasdaq: AAPL) In the table above for the annual income statements of Apple (Nasdaq: AAPL) from 2017 to 2021, the top line item for revenue is labeled net sales.

For example, your annual income statement might show "Year ended December 31, 2015." Your quarterly income statement might display "Three months ended March 31, 2015." Advertisement.

For the next seven years, the company will recognize an annual depreciation expense of $1,500 on the income statement. At the same time, the book value of the equipment will reduce on the balance ...

An example of Bank of America's income statement is shown below with the following highlights: Total interest earned was $57.5 billion for the bank from loans, all investments, and cash positions.

Income Statement Example. For a real-world example, ... The Revenue section shows that Microsoft’s gross margin, also known as gross (annual) profit, for the fiscal year ending June 30, 2023, ...