Finance School of Management The Income statement Major Divisions Revenue cost of goods sold Gross margin General selling and administrative expenses (GS&a) Operating income Interest expense Taxable income Corporate Taxes Net income uesTc8 Finance School of Management ❖ Major Divisions – Revenue & cost of goods sold ✓ Gross margin – General selling and administrative expenses (GS&A) ✓ Operating income – Interest expense ✓ Taxable income – Corporate Taxes ✓ Net income The Income Statement