Please note; According to, Ingram, Albright, Baldwin and Hill (2001) An income statement, which is sometimes called an earning statement or a profit and loss (P&L ) statement reports a business’s revenues and expenses for a fiscal period.
Please note that net income from a business, is not cash flow. Please provide a detailed mathematical example (one example) of how you will determine your profit and loss statement.
(Please provide good quality and original response. Thank you!)