The income statement also known as the profit and loss statement). Note to the class. You will need to complete your initial post prior to seeing your classmates. Once submitted, the discussion open up for you. a. What are the 4 sections of the income statement? b. What does each section tell the owner/manager about the business? c. The goal of the course is to have the student able to read, prepare, and interpret the income statement and other reports. How does the chapter work completed, and in the future relate to learning about the income statement and other reports? d. Lastly, how important are knowing how to calculate and interpret percentages from all areas of the income statement? Give a detailed summary!

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