Income Statement Template Free

Along with the balance sheet and the cash flow statement the income statement is one of the three basic financial statements.

Income statement template free. Investors and business managers use the income statement to determine the profitability of the company it is one of three major financial statements required by gaap generally accepted accounting principles. An income statement shows the income and expenses of a company over a specified period of time. Income statement can be recognized as a financial statement of the business organization or company that shows its revenues subtracting various costs and expenses over a mentioned period of time. Income statement excel template.

Use this accessible template to create an income statement. Basically it is a comprehensive summary of income expenses and resulting profits or losses of business or company for stated time interval and details should be added in it accurately to stay away from troubles in future. This income statement template is completely free to download and we are sure you will like it a lot when making income statement for personal or professional purpose. An income statement reports a company s income expenses and thus derives its profit generated for a specific period generally for a financial year.

The attached excel template of an income statement is to be used for understanding how to calculate net profit from gross sales reported by a company.