PersonalFinanceLab: Income Statement

This animated video explains the concept of an income statement, a financial statement that shows a company's revenue and costs over a given period. What You Will Learn: • What an income statement is and its importance in financial reporting. • How to calculate revenue and costs of goods sold (COGS). • The difference between gross income and operating income. • How to calculate selling, general, and administrative (SG&A) costs. • How to calculate net income and understand the profit generated from a company's operations.