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2012 INCOME AND EXPENSE STATEMENT The information filed and furnished with this report will remain confidential and is not open to public inspection. Any information related to the actual rental and

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What is income and expense statement?

An income and expense statement, also known as a profit and loss statement or statement of operations, is a financial document that shows the revenues, expenses, and resulting net income or loss of a company or individual over a specific period of time.

Who is required to file income and expense statement?

Businesses, self-employed individuals, and some individuals with rental income or other sources of income are required to file an income and expense statement.

How to fill out income and expense statement?

To fill out an income and expense statement, you need to gather all your income sources and categorize them as revenues. Then, list all your expenses and categorize them accordingly. Finally, subtract the total expenses from the total revenues to calculate the net income or loss.

What is the purpose of income and expense statement?

The purpose of an income and expense statement is to provide an overview of a company or individual's financial performance over a specific period. It helps in assessing profitability, identifying areas of improvement, and making informed financial decisions.

What information must be reported on income and expense statement?

An income and expense statement typically includes information on revenues, cost of goods sold (if applicable), operating expenses, non-operating expenses or income, and the resulting net income or loss.

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