The income statement is one of the Reports Troika that indicates the financial status of a company and is a key document in the process of Fundamental Analysis. The other two being the Balance Sheet and the Cash flow statement. Today our discussion revolves around the Income statement, synonymous with the Profit & Loss (P&L) statement. What is an Income Statement? The P&L statement is usually published quarterly & annually to show if the organization has made profit or loss during the period. Further, It is crucial to publish, as it promotes transparency, builds confidence among the stakeholders like business owners, organizational management, shareholders as well as consumers. To put…