Profit And Loss Statement

A Profit and Loss Statement, also known as an income statement, is a financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time, usually a fiscal quarter or year. The purpose of this statement is to show the company's profitability by subtracting the total expenses from the total revenue. The statement includes all revenue streams, such as sales, investments, and interest income, as well as all expenses, such as salaries, rent, and taxes. The resulting net income or loss is a key indicator of the company's financial health and performance.

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Profit And Loss Statement

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