Profit and loss statement—discussion question

Please note; According to, Ingram, Albright, Baldwin and Hill (2001) An income statement, which is sometimes called an earning statement or a profit and loss (P&L ) statement reports a business’s revenues and expenses for a fiscal period.

Please note that net income from a business, is not cash flow. Please provide a detailed mathematical example (one example) of how you will determine your profit and loss statement.

(Please provide good quality and original response. Thank you!)

 
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