Profit and Loss Statement. Introduction. Balance sheet shows health of the organization. Income statement also called as profit and loss statement (P&L), gives company's financial statement for particular period.
MrPatil started poultry as a side business with 102 birds. He started business with his own saving of Rs.5000/-.
Out of 102 birds, in one month, 7 birds died
Total 2040 rupees
Total Profit is