From the course: Finance Foundations
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The income statement
- The second primary financial statement is the income statement. An income statement lists a company's revenues minus expenses. The difference is called net income. The income statement is the financial statement that people talk about all the time. People naturally want to know how much money did the company make? Well let's look at an actual example of an income statement. This is the income statement for Walmart for the year ended January 31st, 2018. You see revenues, expenses and down at the bottom, you see the bottom line, the net income. Well let's look at some of these numbers because they're amazing. Retail sales for Walmart for the year ended January 31st 2018 were $495 billion. This is the total amount that Walmart sold to you and me and other people around the world during the year. By the way, that's the world record. No company in the history of the world has ever sold more than that in one year. No one else is even close. By comparison, Apple sales during the same year…
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