A company's income statement shows how much money it brought in as revenue or sales, how much it spent on expenses, and how much profit or loss -- also called net income -- was generated for a given ...

Nakase Law Firm Inc. often provides guidance to business owners asking what is net income and how is it calculated in accounting.

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...