Income statement: profit and loss
How much money will you have left after all expenses are paid?
Does not provide an overall picture of the businessÅf value
Begins with sales (revenues) and each subsequent line in the statement represents another cost (expenses)
Gross sales: $ ____
Then: employee benefits, depreciation/amortization, office supplies, marketing, travel, entertainment/meals, insurance, professional services, maintenance, commuication/computing
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