Income Statement on Trading Company
The income statement is part of a company's financial statements were produced in a period or periods accounting book that presents all elements of income and expense that the company will ultimately generate net income conditions or loss which aims to determine the amount of tax to be charged to entrepreneurs, evaluate and check the history of profit each time, check the efficiency of business based on the value of business costs, and help investors and creditors determining past financial performance of the company, predict future performance, and assesses the ability to generate future revenue streams through the reporting of income and expenses. The difference between revenues and expenses is the profit or loss derived by the company. Income statement can be prepared easily with the help of the work sheet or paper work done with quoting nominal account balances such as income and expenses that are in the column of income in the work sheet. In the income statem