Income Statement ( Service Business ) Revenue Expenses NET INCOME = REVENUE - EXPENSES Income Statement ( Retail ) REVENUE COST OF GOODS SOLD (COGS) = GROSS INCOME GROSS INCOME EXPENSES = NET INCOME 4+

Income Statement ( Service Business )

Revenue
Expenses
NET INCOME = REVENUE - EXPENSES

Income Statement ( Retail )

REVENUE
COST OF GOODS SOLD (COGS) = GROSS INCOME GROSS INCOME
EXPENSES = NET INCOME

4+ sentences each

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