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Income Statement

Income Statement

 

One of the major financial statements focused on a business’s revenues and expenses in a particular period. It is also known as the profit and loss statement. The income statement includes the gross profit, earnings before tax, and net profit.Tax Returns: The forms a business makes on an annual statement of income and personal circumstances sent to the IRS to assess the liability for tax. Most businesses on Vetted Biz will reference the information on their most recent tax returns to provide the most accurate data.

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