FAQs Business Owners Need to Know About The 3 Essential Financial Reports
inDinero Accounting
JUNE 24, 2021
Freshbooks outlines the three formulas used to calculate net income on a multi-step income statement : The multi-step income statement uses three different accounting formulas to arrive at the net income: 1. GROSS PROFIT = NET SALES – COST OF GOODS SOLD. OPERATING INCOME = GROSS PROFIT – OPERATING EXPENSES.
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