The income statementThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... More provides a summary of a company’s revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company’s total revenue, the cost of goods sold, gross profitIn the world of finance and accounting, the term "gross profit" holds significant importance as it provides a fundamental snapshot of a company's financial health. Also known as gr... More, and operating expenses, among other items. The net income, or bottom line, represents the company’s profit or loss for the period.
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