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Fire Your Stock Analyst!: Analyzing Stocks on Your Own by Harry Domash

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Income Statement

The income statement, sometimes called the profit and loss statement, shows the firm’s sales and expenses, for the quarter or fiscal year, and for the year-ago period. Here are terms which typically appear on the income statement.

  • Revenues: The company’s total sales for the period. Sometimes another revenue figure is included showing sales unrelated to its main business.

  • Cost of sales: The direct material and labor costs of making or acquiring the products sold. Cost of sales often includes depreciation and amortization, but it doesn’t include marketing, R&D, or other indirect costs.

  • Gross profit: Revenues minus cost of sales.

  • Research and development: Costs of developing new products and services.

  • Sales and marketing: Often combined ...

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