Chapter 1, Problem 4BPSB

To determine

Income statement refers to a financial statement that helps to evaluate the financial performance of the company over a particular period of time. The evaluation of financial performance can be made with reference to the expenses and revenue incurred by the business through its operations (both operating and non operating activities).

Income statement can be prepared using single step approach or multiple step approach to evaluate the profitability of business over a particular period of time.

Income statement is prepared by deducting expenses from revenue to arrive at net profit.

To determine:

We have to determine the income statement for solar company.