Quick Finance Tip - Multiple-Step Income Statement

Multiple-step income statement reports income by Gross Profit, Operating Income, Income Before Taxes, and Net Income. To help provide a quick template, remember the "SCG" to "OsgrO" to "OIIN" rules. Therefore, it will look like: 

1. Sales Revenue
2. COGS = 
3. Gross Profit -
4. Operating Expenses (Selling, G&A, R&D) = 
5. Operating Income + / - 
6. Other Income (i.e. interests, gains/losses of sale) = 
7. Income Before Income Tax - 
8. Income Tax = 
9. Net Income