Key components of an income statement There are several key components of an income statement, and knowing them can go a long way toward helping you interpret one of these documents effectively.

An income statement shows a business's revenue and costs to determine profit, including sales revenue, cost of sales, gross profit, expenses, and net profit. It demonstrates financial performance ...

The income statement is a financial document that demonstrates the financial performance of a business based on its income and how this has changed over a period of time, usually 12 months.