Businesses exist to generate revenues and profits and provide returns to their owners, who create and track revenues, expenses and profits on a profit and loss, or income, statement. The profit and ...

The income statement describes how much money a company has made or lost over a given period, usually three or 12 months. A company that produces or sells merchandise uses a form of the income ...

A company's income statement shows how much money it brought in as revenue or sales, how much it spent on expenses, and how much profit or loss -- also called net income -- was generated for a given ...