All of the factors that have to be included in the income statement are:
- 1. income
- 2. expenses
- 3. net profit
What is meant by the income statement?
This is the term that is used to refer to the financial statement that would be made to show the revenue, the expenses and the profits that are made by a given company over a period of time. This is also called the earnings statement. It shows the revenue that is made from business.
Hence we can say that All of the factors that have to be included in the income statement are:
- 1. income
- 2. expenses
- 3. net profit
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