Let's look at a sample income statement to better illustrate the format. In the example above, Company A has generated $1 million in product sales for the year.

Income Statement Example. For a real-world example, let's look at Microsoft Corporation's June 2024 Income Statement as reported to the Securities and Exchange Commission (SEC).

Basic Income Financial Statement Format. According to the Corporate Finance Institute, the basic financial statement format for an income statement states revenues first, followed by expenses.

In the example below for Apple (Nasdaq: AAPL), a 5-year compilation of its income statements show how its net income almost doubled with an increase in sales of its product and services while ...

Below is the 2021 quarterly income statement from Ford's Form 10-Q. One of the first things that you will notice is that the report is using horizontal analysis.

Income Statement Example. As an example, we're going to take a look at Microsoft Corporation's FY22 Q1 income statement: MSFT FY22Q1 income statement (Microsoft Corp.) ...

If the income statement includes subtotals like "Total expenses," for example, the easiest method is to use the subtotal number where our missing account is and subtract out the other accounts ...

An income statement is also known as a profit and loss statement (P&L). Companies need to track revenue and expenses for tax purposes, to get approved for business loans and to understand their ...

Income Statement Example. Income statements can look different from one company to the next depending on a company’s streams of income and expenses and how they choose to categorize them.