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![]() These are available to download from the companies’ websites. In order to understand the structure and parts of an income statement, let us take a look at some example income statements from three well-known companies, Microsoft, Apple and Tesla. ![]() Income statement is also called using the following names: Balance Sheet and Cash Flow Statement are the other two. It is one of the three financial statements of a business or a company. It is a representation of the ‘profitability’ of a company. Let’s start with income statement definition.Īn income statement is a financial statement of a company that shows the company’s revenues and expenses during a specific period. We will also discuss how you can create an income statement for your small business using a free Excel template. We will create Microsoft’s income statement in Excel. We will define the 7 parts of an income statement. In this article, we will cover the definition of an Income statement, use some examples to understand the format of an income statement. 2023 Income Statement – Profit & Loss Statement – Small Business
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