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Income statement
Provides a financial summary of the firm's operating results during a specified period. Usually covers a 1-year period.
Gross profit
Sales revenue minus cogs equal gross profit.
Operating profit
Sales rev minus cogs minus operating expenses
Operating profit is also called...
Earnings before interest and taxes (EBIT)
Net profit/loss (income) is also called...
earnings available to common stockholders. Sales rev minus cogs minus operating expenses minus interest expenses minus taxes minus preferred stock dividends.
Balance sheet
Summary statement of the firm's financial position at a given point in time. Assets are listed as most liquid (cash) to least liquid.
Retained earnings
The cumulative total of all earnings, net of dividends, that have been retained and reinvested in the firm since its inception.
Statement of stockholders' equity
Shows all equity account transactions that occurred during a given year.
Statement of retained earnings
Retained earnings plus net profit after taxes any cash dividends (preferred and common) paid.
Statement of cash flows
Provides a summary of the firm's operating, investment, and financing cash flows and reconciles them with changes in its cash and marketable securities during the period.
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