Companies prepare an income summary and an income statement at the end of an accounting period. While an income summary is a clearing account used to close income-statement accounts at the end of a ...

A profit or loss statement, also called an income statement, reports information about the flow of money into and out of your small company. It's an important financial statement for analytical ...

Intuition and ambition can spark a business, but they’re not enough to sustain one. To make sound decisions, owners need a ...

Here's how to show changes in retained earnings from the beginning to the end of a specific financial period. Many, or all, of the products featured on this page are from our advertising partners who ...

Create and customize an income statement to fit your business's needs, then save, print or send. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

As a business owner monitoring the financial health of your business is an essential task. You need to understand the financial position of your company and how you can improve it. The income ...

Income statements reveal a company's revenues and expenses, aiding investment analysis. Key metrics like gross profit margin and EPS inform on company profitability and health. Analyzing changes in ...