income statement

noun

1. an accounting of income and expenses that indicates a firm's net profit or loss over a certain period of time, usually one year.

Example Sentences

Your W-2 form is the official income statement your employer sends the IRS.

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The investing company will have to put its losses or gains in its income statement in the quarter and year when the losses or gains took place.

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By utilizing cash to pay for these items, you may be able to claim a lesser amount of the refund that you receive when you complete an annual income statement for eligibility.

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“Unlike business accounting, there is no income statement or balance sheet that can be produced for personal taxes to fill in the gap for underwriting purposes,” Fuentes said.

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After a vetting process that requires volunteer sponsors to sign a financial declaration and provide an income statement, Uniting for Ukraine hands the care of the refugees over to private individuals with no additional oversight.

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