Taxes are another major expense that will be found in this area at the bottom of the income statement but above net income. The very "bottom line" of the income statement is net income.

A company's income statement details revenues and expenses, including taxes and interest. Its bottom line is net income. However, net income only recognizes earned income and incurred expenses.

In their income statement ... expenses associated with day-to-day operations, such as selling, general, and administrative costs (SG&A), interest paid on debt, and income taxes paid, shows ...

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Have an income pile and an expense pile. Because as you get to the tax forms, you get to the income first and you'll go through that and you'll get the expenses." he said. Once those two piles of ...