A profit and loss statement, also known as an income statement, is a financial statement that shows your total income, total costs (what you pay to manufacture ... After entering your sales and ...

Investopedia / Tara Anand Net Sales is the equivalent to revenue ... the top line because it appears at the top of the income statement. Costs are subtracted from revenue to calculate net income ...

By subtracting cost of sales from revenue ... Working from the top line items in the income statement, cost of goods sold is subtracted from revenue, and the difference is gross profit.

It's located on the bottom line of the income statement ... including cost of goods sold (which is listed as "cost of sales" and included in total operating expenses). This gives you the following ...

The key information shown on an income statement includes information about revenue, cost of sales, and any other expenses, along with gross and net profit.