Income Statement

Income Statement is used to show business done by a company in one year.

One formula can conclude the whole income statement.

Revenue - Expense = Profit

For example, you own an company which selling apple. After one year,  1000 apples are sold with 2 dollar each.(Revenue= 1000 x2=2000) Suppliers provide apples with 1 dollar each. Salary for worker is 100 dollar per year and electricity cost per year is 50 dollar. (Expense= 1000 x1+100+50=1150) Your company earns a profit of 850 dollar. (Profit = 2000-1150 =850) 

Income Statement Template 

Components of Income Statement:
  1) REVENUE : Price x Quantity
  2) COST OF GOOD SOLD : Direct costs involved in producing  products. Examples are materials, direct labour, factory overhead such as electricity bill and depreciation of machines.
  3) GROSS PROFIT : REVENUE - COST OF GOOD SOLD
  4) OTHER OPERATING PROFIT : Other incomes from direct sales of products such as sales of electricity and rental fees from unused spaces from building used for operation.
  5) OPERATING EXPENSE :  Indirect expense incurred other than direct cost such as general & administrative expenses, sales & distribution expenses, promotion expenses, research expenses.
  6) OPERATING PROFIT :  GROSS PROFIT + OTHER OPERATING   PROFIT - OPERATING EXPENSE
  7) FINANCIAL PROFIT (also called Non-Operating Profit) : Profit that are generated from non-operating activities. Examples are interest received, gain from selling securities.
  8) FINANCIAL EXPENSE (also called Non-Operating Expense) : Expense that are not included in operating activities. Examples are interest paid, lost from selling securities.
  9) PROFIT BEFORE TAX (PBT) : OPERATING PROFIT + FINANCIAL PROFIT - FINANCIAL EXPENSE
  10) INCOME TAX : Tax paid to government based on profit before tax (or more accurate taxable income)
  11) NET PROFIT FROM CONTINUING ACTIVITIES : PROFIT BEFORE TAX - INCOME TAX
  12) NET PROFIT FROM DISCONTINUED ACTIVITIES : Gain/ Loss from liquidating one of the sectors of the company
  13) OTHER COMPREHENSIVE INCOMES : Mainly consist of three factors that not added into the profit. Examples are Gain/ Loss from foreign currency, gain/loss from hedging, unrealised gain of available-for-sales securities.
  14) TOTAL COMPREHENSIVE INCOMES : NET PROFIT + OTHER COMPREHENSIVE INCOMES

Other Info: 
"Balance Sheet"
"Change of Equity Statement"
"Cash Flow Statement"