a What is the income statement equation? b What are the three things to keep in mind
Question:
a What is the income statement equation?
b What are the three things to keep in mind when looking at an income statement?
c Why is accounting income not the same as cash flow? Give two reasons.
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a The income statement equation also known as the profit and loss statement equation is as follows Revenue Expenses Net Income This equation represents the basic structure of an income statement where revenue represents the total income generated from sales or services expenses represent ...View the full answer
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Related Book For 
Fundamentals of corporate finance
ISBN: 978-0073382395
9th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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