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The income statement is one of a company s core financial statements that shows their profit and loss over a period of time.
Income statement gross revenue. The profit or loss is determined by taking all revenues and subtracting all expenses from both operating and non operating activities this statement is one of three statements used in both corporate finance including financial modeling and accounting. 252 in sales revenue 200 in cost of goods sold 52 gross profit this means the 20 percent discount you gave wiped an incredible 54 8 percent off your gross profit. This may not exactly equal all the money that the firm collects during the year as extraordinary items on the income statement may also result in additional cash. Gross revenue reporting.
The income statement comes in two forms multi step and single step. So as a business owner you will want to think carefully before offering deep discounts.
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