An income statement template is a financial statement which is prepared by all businesses regardless of their size and nature. The time when to prepare an income statement will depend on the size of the organization. Usually it is prepared after six months or complete accounting year. Company name, title of the statement and time period is mentioned at the top of the page. This income statement template totals the incomes and expenses of that business for a specified period of time and the difference of these totals is known as income. Income before and after tax are calculated to…