Profit And Loss Statement

Definition of "Profit and loss statement"

Brenda  Geraci  real estate agent

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Brenda Geraci elite badge icon

KW College Park - Upland

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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