{"id":23874,"date":"2025-07-29T13:02:06","date_gmt":"2025-07-29T13:02:06","guid":{"rendered":"https:\/\/www.mooninvoice.com\/blog\/?p=23874"},"modified":"2025-07-29T13:02:06","modified_gmt":"2025-07-29T13:02:06","slug":"how-to-prepare-income-statement","status":"publish","type":"post","link":"https:\/\/beta.mooninvoice.com\/blog\/how-to-prepare-income-statement\/","title":{"rendered":"How to Prepare Income Statement for Business Professionals"},"content":{"rendered":"<p><script type=\"application\/ld+json\">\n    {\n      \"@context\": \"https:\/\/schema.org\",\n      \"@type\": \"FAQPage\",\n      \"mainEntity\": [{\n        \"@type\": \"Question\",\n        \"name\": \"Which accounts are found on an income statement?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"All revenue and expense accounts, such as COGS, sales, and employees\u2019 salaries, are found on an income statement. Apart from that, you can also see gains and losses due to non-operating activities. Scrolling down a bit, you will also find net income at the bottom of the statement.\"\n        }\n      }, {\n        \"@type\": \"Question\",\n        \"name\": \"Is the income statement the same as the balance sheet?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"No, both are not the same. The income statement throws light on the overall performance of your business. Whereas, a balance sheet only gives limited details for a defined period, emphasizing the company's assets, liabilities, as well as equity. Hence, they can\u2019t be the same.\"\n        }\n      }, {\n        \"@type\": \"Question\",\n        \"name\": \"What is the formula for calculating total income?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"The total income formula is to add all your earnings from the various revenue streams(profits, capital gains & others), and then subtract all deductions (allowances or tax reliefs). By following the calculations as stated, you will be able to figure out the total income of your company.\"\n        }\n      }, {\n        \"@type\": \"Question\",\n        \"name\": \"What are the main components of an income statement?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"Cost of goods sold (COGS), gross profit, net profit, operating income, and operational expenses are the key components of this financial statement. They further aid investors in getting insights into the company\u2019s ability to perform its financial obligations.\"\n        }\n      }, {\n        \"@type\": \"Question\",\n        \"name\": \"What is the difference between gross profit and net profit?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"Even though both signify profitability, they are very distinct from each other. Gross profit takes off the cost of goods sold (COGS) from the revenue to represent the profit made from the company\u2019s primary operations. On the contrary, net profit goes further as it accounts for all other operating expenses when subtracting them from revenue.\"\n        }\n      }, {\n        \"@type\": \"Question\",\n        \"name\": \"Is the income statement the same as the cash flow statement?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"No, the income statement can never be the same as the cash flow statement. The income statement offers detailed insights into revenues, expenses, gains, and losses using accrual accounting. This means that it will also include non-cash items like depreciation. Contrarily, the cash flow statement highlights actual inflows and outflows through cash basis accounting and hence, it excludes non-cash expenses.\"\n        }\n      }]\n    }\n    <\/script><script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\/\",\n  \"@type\": \"Article\",\n  \"mainEntityOfPage\": {\n    \"@type\": \"WebPage\",\n    \"@id\": \"https:\/\/www.mooninvoice.com\/blog\/how-to-prepare-income-statement\/\"\n  },\n  \"headline\": \"How to Prepare Income Statement for Business Professionals\",\n  \"description\": \"Read our expert-written business guide on how to prepare income statement online. Also, explore income statement examples and uses.\",\n  \"image\": {\n    \"@type\": \"ImageObject\",\n    \"url\": \"https:\/\/www.mooninvoice.com\/blog\/wp-content\/uploads\/2025\/07\/How-to-Prepare-Income-Statement-for-Business-Professionals.jpg\",\n    \"width\": \"1200\",\n    \"height\": \"700\"\n  },\n  \"author\": {\n    \"@type\": \"Organization\",\n    \"name\": \"Moon Invoice Team\"\n  },\n  \"publisher\": {\n    \"@type\": \"Organization\",\n    \"name\": \"Moon Invoice\",\n    \"logo\": {\n      \"@type\": \"ImageObject\",\n      \"url\": \"https:\/\/cdn.mooninvoice.com\/image\/images\/logo.svg\",\n      \"width\": \"254\",\n      \"height\": \"47\"\n    }\n  },\n  \"datePublished\": \"2025-07-29\",\n  \"dateModified\": \"2025-07-29\"\n}\n<\/script><\/p>\n<div class=\"blog-cta-main\">\n<p><strong><span style=\"margin-right: 10px; font-size: 22px;\">\ud83d\udca1<\/span>Did You Know\ud83d\udc49<\/strong><\/p>\n<p>Meeting sustainability reporting standards is one of the <a href=\"https:\/\/www.inaa.org\/top-accounting-challenges-in-2025\/\" target=\"_blank\" rel=\"nofollow noopener\">top challenges for accountants in 2025<\/a>.<\/p>\n<\/div>\n<h2>What Is an Income Statement?<\/h2>\n<p>An <strong>income statement is a financial report that showcases a company\u2019s net income and expenditures throughout the fiscal year<\/strong>. It throws light on how well a company performed and what are the areas that need your attention. Basically, it provides a clear picture of the financial activities by breaking down the costs incurred by the company.<\/p>\n<p>This information presented on the income statement is later examined by investors and lenders. By doing so, they can learn about the company\u2019s revenue and how it turned into net profit. Based on that, they can decide whether it\u2019s worth an investment.<\/p>\n<h2>Income Statement Example<\/h2>\n<p>To ensure you get a clear idea about what is statement of income, we tried generating an income statement of Tesla using <strong>Moon Invoice<\/strong>. If you take a closer look at this income statement example, you can see the breakdown of the company\u2019s expenses and revenue.<\/p>\n<p>Check out the <strong>example of income statement<\/strong> to know what Tesla&#8217;s net income was for Q1 of 2026.<\/p>\n<h3>Tesla Income Statement (Q1 FY25)<\/h3>\n<div class=\"web_development_div\">\n<table class=\"table table-bordered table-striped\">\n<tbody>\n<tr>\n<td><b>Revenue <\/b><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Automotive sales<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$15,560<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Services &amp; other<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$5,212<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Cost of Goods Sold <\/b><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Labor &amp; manufacturing<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$10,900<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Vehicle warranty expenses<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,400<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Operating Expense<\/b><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">General &amp; administrative<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2750<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Marketing<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1900<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Income<\/b><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Profit<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$8,472<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total net income<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$3,822<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div class=\"cta-sc\">\n<p class=\"cta-ttl\"><span id=\"Generate_Invoices_In_the_Blink_of_an_Eye!\" class=\"ez-toc-section\"><\/span>Forget the Pain of Deriving Data Manually<\/p>\n<p class=\"cta-cnt\">Centralize your accounting data in one cloud-enabled software, Moon Invoice and pull out the accurate details in a fraction of a second.<\/p>\n<p><a class=\"btn\">Try Generating Reports<\/a><\/p>\n<\/div>\n<h2>How to Prepare an Income Statement<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23879\" src=\"https:\/\/www.mooninvoice.com\/blog\/wp-content\/uploads\/2025\/07\/How-to-Prepare-an-Income-Statement.jpg\" alt=\"How to Prepare an Income Statement\" width=\"1200\" height=\"1033\" \/><\/p>\n<p><strong>Preparing income statements<\/strong> may sound like a complex process, but it\u2019s actually not. To <strong>create an income statement<\/strong>, you need to pull out the required data from the company\u2019s general ledger because there is no <strong>income statement formula<\/strong>. Or if you have managed data somewhere else on spreadsheets, keep it handy before you start following the steps below.<\/p>\n<h3>1. Define a Period<\/h3>\n<p>Whenever you start creating an income statement, always pick a reporting period such as quarterly, monthly, or annually. If you own a small business, you will need a <a href=\"https:\/\/www.mooninvoice.com\/blog\/profit-and-loss-statement\/\" rel=\"\">P&amp;L (Profit and Loss) statement<\/a> on an annual basis. But if you operate a large-size business, you will need a statement quarterly or monthly.<\/p>\n<p>So, depending on your requirement, choose the reporting period. You will later be required to mention the same on the income statement.<\/p>\n<h3>2. Find the Company\u2019s Revenue<\/h3>\n<p>Alright, now discover what is your company\u2019s revenue (both operating and non-operating revenue) for a reporting period that you finalized earlier. You need to calculate the money you earned by providing services or selling products within the defined reporting period.<\/p>\n<p>Remember, if there are pending dues, you should refrain from including them in a revenue column. Because you are yet to earn that money from customers. If you are unsure <a href=\"https:\/\/www.mooninvoice.com\/blog\/how-to-calculate-revenue\/\" rel=\"\">how to calculate revenue<\/a>, you can utilize online tools to get an accurate revenue figure.<\/p>\n<h3>3. Know What\u2019s COGS<\/h3>\n<p>The next thing you will need to prepare an income statement is the cost of goods sold (COGS). So, in case you operate a service-oriented business, you must find the labor charges, material costs, and production costs first in order to calculate COGS.<\/p>\n<p>The COGS formula is simple:<\/p>\n<p><em><strong>Beginning Inventory + Purchases Made During the Period \u2212 Ending Inventory<\/strong><\/em><\/p>\n<p>On your income statement, mention COGS right after the company\u2019s revenue section. Make sure you have accurate COGS. This is because it affects the gross margin as well as the company\u2019s profitability, which you displayed on the income statement.<\/p>\n<div class=\"blog-cta-main\">\n<p><strong><span style=\"margin-right: 10px; font-size: 22px;\">\ud83d\udca1<\/span>You May Also Learn:<\/strong><\/p>\n<p><a href=\"https:\/\/www.mooninvoice.com\/blog\/how-to-calculate-cost-of-goods-sold\/\" rel=\"\">How to calculate cost of goods sold<\/a><\/p>\n<\/div>\n<h3>4. Identify Pre-Tax Income<\/h3>\n<p>Now, at this stage, you need to get the actual earnings before taxes, i.e., pre-tax income. This process involves summing the total profit after taking off COGS and operating expenses. For example, you may have earned revenue of $2,000,000 in a year, comprising the COGS of $300,000 and the operating expenses of $150,000.<\/p>\n<p>The amount you get as pre-tax income will be noted in the bottom section of the income statement. Once you are done, move on to the next step.<\/p>\n<h3>5. Add Income With Taxes<\/h3>\n<p>Coming to this step, you will now be required to calculate the income, inclusive of taxes. For that, you can use the pre-tax income amount, which you figured out previously. Then, multiply the taxes by pre-tax income, and you will get the income with taxes. It is one of the key metrics to gauge the profitability without any impact of taxes.<\/p>\n<p>For example, if your company pays 11% of the income tax to the <a href=\"https:\/\/www.irs.gov\/\" target=\"_blank\" rel=\"nofollow noopener\">IRS<\/a> and 5% tax to the state government, then mention it all in the statement.<\/p>\n<h3>6. Calculate Net Income<\/h3>\n<p>Lastly, <a href=\"https:\/\/www.mooninvoice.com\/blog\/how-to-calculate-net-income\/\" rel=\"\">calculate net income<\/a> before you take the final look at the income statement. Here, you can minus both interest and taxes from the pre-tax income. Now, the resulting amount is the available reserve funds that can be used for different business purposes.<\/p>\n<p>Once added, you can start reviewing the statement. Ensure you have added the header part, highlighting the reporting period and necessary business details. Since your income statement is now ready, it will provide a snapshot of your company\u2019s financial health.<\/p>\n<div class=\"blog-cta-main\">\n<p><strong><span style=\"margin-right: 10px; font-size: 22px;\">\ud83d\udca1<\/span>Also Read:<\/strong><\/p>\n<p><a href=\"https:\/\/www.mooninvoice.com\/blog\/financial-reporting\/\" rel=\"\">What is Financial Reporting?<\/a><\/p>\n<\/div>\n<h2>What are the uses of income statements?<\/h2>\n<p>The income statement is not just an ordinary document for individuals running their own business. Here are the uses of the income statement.<\/p>\n<h3>Founders\/CEOs<\/h3>\n<p>Business founders check the income statement quarterly or yearly to analyze business performance. In fact, they look at the income statement when it comes to making important financial decisions. In many companies, the final decisions come from the CEOs, and hence, the income statement is passed to the CEO\u2019s desk once it is prepared. They dive deep to learn about the revenue and expenses before coming to the final decision.<\/p>\n<h3>Lenders<\/h3>\n<p>Lenders also use the income statement for a very important reason: they want their money back after some days. So, they go through the income statement carefully and decide whether to offer financial aid to the borrower. Assessing the income statement allows them to identify if the company can really pay its debts. As per their observations from the statement, they decide what to do.<\/p>\n<h3>Investors<\/h3>\n<p>The income statement pulls the local and foreign investors as well. They take a keen interest in exploring the company\u2019s financial ability to earn profits through various revenue streams. They go through each row in the statement when deciding whether to invest in the company. After all, they want your company to make more profits, regardless of the seasonal trends and customer demands.<\/p>\n<div class=\"blog-cta-main\">\n<p><strong><span style=\"margin-right: 10px; font-size: 22px;\">\ud83d\udca1<\/span>Read at Your Leisure:<\/strong><\/p>\n<p><a href=\"https:\/\/www.mooninvoice.com\/blog\/miscellaneous-expenses\/\" rel=\"\">What are Miscellaneous Expenses?<\/a><\/p>\n<\/div>\n<div class=\"cta-sc\">\n<p class=\"cta-ttl\"><span id=\"Generate_Invoices_In_the_Blink_of_an_Eye!\" class=\"ez-toc-section\"><\/span>Copy-pasting Accounting Data? Not Anymore<\/p>\n<p class=\"cta-cnt\">Stop copy-pasting data from spreadsheets and start using Moon Invoice to create high-quality income statements that dazzle your investors.<\/p>\n<p><a class=\"btn\">Grab a Free Trial<\/a><\/p>\n<\/div>\n<h2>What\u2019s Included in the Income Statement?<\/h2>\n<p>Professionals can decide what to include in the income statement based on what your business is all about. Say, if you are running a consulting business, you are likely to include more information on service revenue.<\/p>\n<p>Likewise, if you are a retail business owner, you will specify details about line items in the statement.<\/p>\n<p>Let us check what are necessary things usually included in the income statement.<\/p>\n<div class=\"determinant-table-div\">\n<table class=\"determinant-table table table-bordered\">\n<thead>\n<tr>\n<th><b>Aspects<\/b><\/th>\n<th><b>Descriptions<\/b><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><center><span style=\"font-weight: 400;\">Sales<\/span><\/center><\/td>\n<td><center><span style=\"font-weight: 400;\">A number of sales you achieved in the defined reporting period.<\/span><\/center><\/td>\n<\/tr>\n<tr>\n<td><center><span style=\"font-weight: 400;\">COG<\/span><\/center><\/td>\n<td><center><span style=\"font-weight: 400;\">The cost required to manufacture the products.<\/span><\/center><\/td>\n<\/tr>\n<tr>\n<td><center><span style=\"font-weight: 400;\">Losses<\/span><\/center><\/td>\n<td><center><span style=\"font-weight: 400;\">Whatever losses you suffered during the fiscal year.<\/span><\/center><\/td>\n<\/tr>\n<tr>\n<td><center><span style=\"font-weight: 400;\">Expenses<\/span><\/center><\/td>\n<td><center><span style=\"font-weight: 400;\">Operational expenses necessary to run your daily operations<\/span><\/center><\/td>\n<\/tr>\n<tr>\n<td><center><span style=\"font-weight: 400;\">Net Income<\/span><\/center><\/td>\n<td><center><span style=\"font-weight: 400;\">The final profit figure after you subtract all taxes.<\/span><\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>Conclusion<\/h2>\n<p>Income statements are easy to prepare when you have accurate accounting details handy. We hope you now have a clear understanding of <strong>how to fill out an income statement<\/strong>. You need to calculate many things, such as COGS, expenses, EBIT, income, <a href=\"https:\/\/www.mooninvoice.com\/blog\/times-interest-earned-ratio\/\">TIE Ratio<\/a> and other details, before putting them in the income statement.<\/p>\n<p>However, you don\u2019t have to waste time in manual calculations if you get the right invoicing or <a href=\"https:\/\/www.mooninvoice.com\/accounting-software\" rel=\"\">accounting software<\/a>. Just a few clicks here and there, and you will get your income statement ready. That said, wouldn&#8217;t you like to try it by yourself? <a href=\"https:\/\/web.mooninvoice.com\/#\/signup\" rel=\"\">Sign up with Moon Invoice now<\/a>.<\/p>\n<h2>General Questions<\/h2>\n<div id=\"1-link-23874\" class=\"sh-link 1-link sh-hide\"><h3 onclick=\"showhide_toggle('1', 23874, 'Which accounts are found on an income statement?', 'Which accounts are found on an income statement?'); return false;\" aria-expanded=\"false\"><span id=\"1-toggle-23874\" class=\"sh-toggle\" data-more=\"Which accounts are found on an income statement?\" data-less=\"Which accounts are found on an income statement?\">Which accounts are found on an income statement?<\/span><\/h3><\/div><div id=\"1-content-23874\" class=\"sh-content 1-content sh-hide\" style=\"display: none;\"><\/p>\n<p>All revenue and expense accounts, such as COGS, sales, and employees\u2019 salaries, are found on an income statement. Apart from that, you can also see gains and losses due to non-operating activities. Scrolling down a bit, you will also find net income at the bottom of the statement.<\/p>\n<p><\/div>\n<div id=\"2-link-23874\" class=\"sh-link 2-link sh-hide\"><h3 onclick=\"showhide_toggle('2', 23874, 'Is the income statement the same as the balance sheet?', 'Is the income statement the same as the balance sheet?'); return false;\" aria-expanded=\"false\"><span id=\"2-toggle-23874\" class=\"sh-toggle\" data-more=\"Is the income statement the same as the balance sheet?\" data-less=\"Is the income statement the same as the balance sheet?\">Is the income statement the same as the balance sheet?<\/span><\/h3><\/div><div id=\"2-content-23874\" class=\"sh-content 2-content sh-hide\" style=\"display: none;\"><\/p>\n<p>No, both are not the same. The income statement throws light on the overall performance of your business. Whereas, a <a href=\"https:\/\/www.mooninvoice.com\/blog\/balance-sheet\/\" rel=\"\">balance sheet<\/a> only gives limited details for a defined period, emphasizing the company&#8217;s assets, liabilities, as well as equity. Hence, they can\u2019t be the same.<\/p>\n<p><\/div>\n<div id=\"3-link-23874\" class=\"sh-link 3-link sh-hide\"><h3 onclick=\"showhide_toggle('3', 23874, 'What is the formula for calculating total income?', 'What is the formula for calculating total income?'); return false;\" aria-expanded=\"false\"><span id=\"3-toggle-23874\" class=\"sh-toggle\" data-more=\"What is the formula for calculating total income?\" data-less=\"What is the formula for calculating total income?\">What is the formula for calculating total income?<\/span><\/h3><\/div><div id=\"3-content-23874\" class=\"sh-content 3-content sh-hide\" style=\"display: none;\"><\/p>\n<p>The total income formula is to add all your earnings from the various revenue streams(profits, capital gains &amp; others), and then subtract all deductions (allowances or tax reliefs). By following the calculations as stated, you will be able to figure out the total income of your company.<\/p>\n<p><\/div>\n<div id=\"4-link-23874\" class=\"sh-link 4-link sh-hide\"><h3 onclick=\"showhide_toggle('4', 23874, 'What are the main components of an income statement?', 'What are the main components of an income statement?'); return false;\" aria-expanded=\"false\"><span id=\"4-toggle-23874\" class=\"sh-toggle\" data-more=\"What are the main components of an income statement?\" data-less=\"What are the main components of an income statement?\">What are the main components of an income statement?<\/span><\/h3><\/div><div id=\"4-content-23874\" class=\"sh-content 4-content sh-hide\" style=\"display: none;\"><\/p>\n<p>Cost of goods sold (COGS), gross profit, net profit, operating income, and operational expenses are the key components of this financial statement. They further aid investors in getting insights into the company\u2019s ability to perform its financial obligations.<\/p>\n<p><\/div>\n<div id=\"5-link-23874\" class=\"sh-link 5-link sh-hide\"><h3 onclick=\"showhide_toggle('5', 23874, 'What is the difference between gross profit and net profit?', 'What is the difference between gross profit and net profit?'); return false;\" aria-expanded=\"false\"><span id=\"5-toggle-23874\" class=\"sh-toggle\" data-more=\"What is the difference between gross profit and net profit?\" data-less=\"What is the difference between gross profit and net profit?\">What is the difference between gross profit and net profit?<\/span><\/h3><\/div><div id=\"5-content-23874\" class=\"sh-content 5-content sh-hide\" style=\"display: none;\"><\/p>\n<p>Even though both signify profitability, they are very distinct from each other. Gross profit takes off the cost of goods sold (COGS) from the revenue to represent the profit made from the company\u2019s primary operations. On the contrary, net profit goes further as it accounts for all other operating expenses when subtracting them from revenue.<\/p>\n<p><\/div>\n<div id=\"6-link-23874\" class=\"sh-link 6-link sh-hide\"><h3 onclick=\"showhide_toggle('6', 23874, 'Is the income statement the same as the cash flow statement?', 'Is the income statement the same as the cash flow statement?'); return false;\" aria-expanded=\"false\"><span id=\"6-toggle-23874\" class=\"sh-toggle\" data-more=\"Is the income statement the same as the cash flow statement?\" data-less=\"Is the income statement the same as the cash flow statement?\">Is the income statement the same as the cash flow statement?<\/span><\/h3><\/div><div id=\"6-content-23874\" class=\"sh-content 6-content sh-hide\" style=\"display: none;\"><\/p>\n<p>No, the income statement can never be the same as the cash flow statement. The income statement offers detailed insights into revenues, expenses, gains, and losses using accrual accounting. This means that it will also include non-cash items like depreciation. Contrarily, the cash flow statement highlights actual inflows and outflows through cash basis accounting and hence, it excludes non-cash expenses.<\/p>\n<p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>\ud83d\udca1Did You Know\ud83d\udc49 Meeting sustainability reporting standards is one of the top challenges for accountants in 2025. What Is an Income Statement? An income statement is a financial report that showcases a company\u2019s net income and expenditures throughout the fiscal year. It throws light on how well a company performed and what are the areas&hellip; <a class=\"more-link\" href=\"https:\/\/beta.mooninvoice.com\/blog\/how-to-prepare-income-statement\/\">Continue reading <span class=\"screen-reader-text\">How to Prepare Income Statement for Business Professionals<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":23878,"comment_status":"open","ping_status":"open","sticky":false,"template":"single-custom-post.php","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-23874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/beta.mooninvoice.com\/blog\/wp-json\/wp\/v2\/posts\/23874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beta.mooninvoice.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beta.mooninvoice.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beta.mooninvoice.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/beta.mooninvoice.com\/blog\/wp-json\/wp\/v2\/comments?post=23874"}],"version-history":[{"count":0,"href":"https:\/\/beta.mooninvoice.com\/blog\/wp-json\/wp\/v2\/posts\/23874\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beta.mooninvoice.com\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/beta.mooninvoice.com\/blog\/wp-json\/wp\/v2\/media?parent=23874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beta.mooninvoice.com\/blog\/wp-json\/wp\/v2\/categories?post=23874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beta.mooninvoice.com\/blog\/wp-json\/wp\/v2\/tags?post=23874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}