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Expanded Income Statement

Author: Evan McLaughlin

Source: Instrumental “Drops of H2O ( The Filtered Water Treatment )" by J.Lang (feat. Airtone),” Creative Commons, http://ccmixter.org/files/djlang59/37792

Video Transcript
Terms to Know
Expenses

Costs associated with operating or maintaining a company.

Purchase

The buying of inventory for resale to customers, or assets such as supplies or equipment, for cash or credit.

Revenue

Earnings from interest or from the sale of goods or services.

Sale

The selling of inventory by a merchandising business.