and expenses in order to calculate net income. Also referred to as a profit and loss statement. By combining these elements, the income statement illustrates just how much income your company ...

Net income is typically found on a company's income statement, which is also called a Profit and Loss statement. As an ...

Net profit – this is calculated by taking the expenses away from the gross profit. This is the final part of the profit and loss account. If the net profit figure is negative, the business has ...