Wade Phillips. Peyton Manning poked fun at Wade Phillips last week on a homemade video, congratulating him on a 39th year coaching in the NFL. But not before Manningâs brother, Cooper, butted in with an impression.
The income statement presents a summary of the revenues, gains, expenses, losses, and net income or net loss of an entity for the period. This statement is similar to a moving picture of the entity's operations during the time period specified.
The Income Statement is a favorite financial statement to review because it reveals the nature of the restaurantâs success. The Income Statement shows how the restaurant performs over a period of time (i.e. a week, month or year). It takes all restaurant income and expenses into account, from prepaid expenses to expenses paid in the future. The Income Statement tells the operator if the business is making a profit. From there, some of key questions that need to be addressed.