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 ...

In a company’s income statement, revenue represents the top line figure for the amount of money generated from the sale of goods and services. From there, most of the items listed on the income ...

It may be recorded as a line item in the expense portion of the income statement. As a matter of record-keeping, the wage expenses line item may also include the expenses of payroll taxes and ...