A financial document generated monthly and/or annually that reports ... Also referred to as a profit and loss statement. By combining these elements, the income statement illustrates just how ...

Let's prepare a profit and loss statement using the sales forecast developed earlier ... you may not go into great detail on equipment and facilities. You could use some monthly rental or lease ...

This is the final part of the profit and loss account. If the net profit figure is negative, the business has made a loss.