9 5 Income statement presentation
Net income is what a business or individual makes after taxes, deductions, and other expenses are taken out. In business, net income is what a company has left after all expenses are subtracted, including taxes, wages, and the cost of goods. Although the terms are sometimes used interchangeably, net income and AGI are two different things. Taxpayers then subtract standard or itemized deductions from their AGI to determine their taxable income. Operating Cash Flow Net income is calculated by deducting a [...]
