Kyra Inc.has applied for a business loan in the United Bank. In order to best assess the loan case, the loan officer at the bank, Sirigu, decides to look at the company's net income figure. Sirigu will find this information in Kyra's _____.

Question

Quizplus · Accepted Answer

The net income figure is a key component of the profit and loss statement, which details a company's revenue, expenses, and resulting profit or loss over a given period of time. It is also known as the income statement, and provides a snapshot of a company's financial performance. The budgeted income statement is an estimate of future revenues and expenses, not past performance. The stockholders' equity statement and the statement of retained earnings focus on a company's equity and how it has changed over time.

Kyra IncHas Applied for a Business Loan in the United Bank