This refers to your income before you pay any taxes

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Gross profit

Gross profit, calculated by subtracting the cost of goods sold from revenue, is the profit made by the company.


Gross profit



Net income

Net income is the income that remains after you subtract all your maldives b2b leads expenses from your gross profit. It is the bottom line of the income statement. If your net income is positive, your business is doing well. If your net income is negative, you may need to look deeper into your operations. It is common for a new business to experience a loss.


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Who Can Use the Income Statement?


What are the Types of Income Statements?

There are several types of income statements that you can use to stay on top of your profit and loss, with varying degrees of complexity. For small business owners, the single-step income statement and the multi-step income statement are the most popular. These are also the equations used to calculate income and expenses in ecommerce .