income statement
earnings report
operating statement
profit-and-loss statement

The income statement can be prepared in one of two methods.

The important thing to remember about an income statement is that it represents a period of time.

This is recorded as a loss of $4,500 in the income statement.

Neither does it show up as an expense on the income statement.

The name comes from the bottom line numbers in the income statement - earnings per share.

But income statements do not try to calculate that cost.

But, he added, "only some show up on the income statement."

The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported.

In playing the game, they learn about the interaction of the income statement with the balance sheet.

Note: all gains and losses go through the income statement.