Income Statement Definition
Income Statement
DEFINITION
An Income Statement is report showing revenue, expenses and profit. An income statement is a basic report for company earnings. These reports are run yearly and quarterly. If a company's stock is publicly traded, earning per share must show on the Income Statement. Summary of Management for the company. Indicates what must be done to improve results. Income = Revenues - Expenses. It also indicates if the owner's equity is getting better or worse over a period of time. This is also called an earnings report.
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