Final answer:
The main components of an income statement are revenue, expenses, gross profit, operating income, and net income.
Step-by-step explanation:
Main Components of an Income Statement
The main components of an income statement are:
- Revenue: Income earned from the sale of goods or services.
- Expenses: The costs incurred to generate revenue.
- Gross Profit: Revenue minus the cost of goods sold.
- Operating Income: Gross profit minus operating expenses.
- Net Income: The final profit amount after deducting taxes and other non-operating expenses.