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Net Income is a measure of the profitability of a company. The goal of a company is to produce profits for the owners. Net income is a clearly defined statement of profitability for a company. Specifically, net income is the excess of the price of goods sold or services rendered minus the costs of goods and services used up during a specified period of time. Stated another way, the calculation of net income is: Net Income = Revenues - Expenses Net income for a company is reported on the Income Statement. |
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