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 ...

Can an accountant do a profit and loss statement? A certified income statement requires the services of a certified public accountant. Financial statements are certified by a CPA who examines them, ...

To calculate the company's total profit or loss you subtract the total costs from the sales revenue: \(\boldsymbol{total\,\,profit\,\,or\,\,loss\,\,=\,\,sales ...