BERRY COMPANY
Income statement
Sales 1470000
Cost of goods sold -930000
Gross profit 540000
Operating costs
Administrative expense 150000
Selling expense 60000
-210000
Net Income 330000.
An income statement is a financial statement detailing a company's income and expenses during a reporting period. Also known as the Income Statement (P&L), it is typically produced quarterly or annually. An income statement shows the financial performance of a company over a period of time.
The income statement shows a company's income, expenses, and profitability for a specified period. It is also sometimes referred to as the Income Statement (P&L) or Income Statement. Income from the sale of products or services.
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