What is an income statement example?

[Samuel]

How can an income statement example help in understanding business finances?

 

[Darcey]

An income statement example shows a company’s financial performance over a period. It includes revenues, cost of goods sold, gross profit, operating expenses, and net income. For instance, a small business might report $50,000 revenue, $20,000 COGS, $15,000 expenses, and $15,000 net profit, helping stakeholders assess profitability.

 

[Emly]

An income statement shows a company’s revenue, expenses, and profit over a period.
Example:
Revenue: $10,000
Expenses: $7,000
Net Profit: $3,000

 

[libby]

A sample of an income statement demonstrates the calculation of profit in a business over a time duration. Take an example of a small company that has a revenue of 50,000, expenses (rent, salaries, utilities) of 30,000, and a net income of 20,000. It usually records revenues and expenses as well as the net profit or net loss.