An income statement template is a unique document for every business and used as a key element to find out about the financial position of a company or business. It is an accounting tool which describes the revenues and expenses through both operating and non-operating activities. An income estimate template helps to determine whether net profit and loss occur during a specific time frame. It provides brief information to investors about the financial affairs of a company and helps to summarize company sales and net income. Usually, it is prepared for a specific time period such as a week, month or year. An income statement is a great source for analyzing facts which are the major cause of loss circumstances. It helps users to know about ordinary expenses and other operating expenses of the organization. This statement plays an important role in providing details and awareness about income and expenses.