It could be a quarterly income statement.

And this is an annual income statement.

let's do the accrual accounting income statement.

So it could be an annual income statement.

So this kind of the cash income statement,

It's the top line of the income statement.

So this right here you could view as our income statement.

And I won't go into all of the details of an income statement, but any income statement you look at will have this operating profit line.

And then also how the income statement relates to the balance sheet.

And your bottom line, that's the bottom line of the income statement.

And I'll show you how to do that on an income statement.

In this scenario, this is the income statement, at least as far as we get to the operating income line.

And here we'll literally just take whatever is reported from the income statement.

In particular, you saw interest expense on Jason's business and not on Ben's income statement.

And income statement tells us what happened over a period of time, what was the activity?

This is our income statement for month one on a Cash basis and a Accurual basis

Above this line right over here is the income statement, down here is the balance sheet.

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I must have gotten 200 worth of value from someplace and that's what the income statement describes.

So I'm gonna start of, we're gonna focus on month 2 and what I've done is I've rewritten some of this accrual income statement down here so it really looks like a statement so this right here is the income statement for month 2 on an accrual basis.

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