Developing an Income Statement

income statement  2 Create a trial balance report A balance report details your end balance for each account that will be listed on the income statement This There are four main financial statements They are: balance sheets; income statements; cash flow statements; and statements of

The three financial statements are the income statement, the balance sheet, and the statement of cash flows See them explained in detail  The income statement is a historical record of the trading of a business over a specific period It shows the profit or

Subtract the selling and administrative expenses total from the gross margin Doing this will give you the amount of pre-tax operating income  An income statement or profit and loss account is one of the financial statements of a company and shows the company's revenues and expenses during a