Profit And Loss Statement


Definition of "Profit and loss statement"

Julie Sullivan
Julie Sullivan Realty One Group

Same as term income statement: Also called profit and loss statement. A financial statement depicting a business entity's operating performance and reports the components of net income, including sales of real estate, rental income, operating rental expenses, income from rental operations, and income before tax. The income statement shows the cash flow for an entire accounting period, usually a quarter. The income statement is included in the annual report of the real estate corporation.

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