The Income Statement
General Need to Know
Single Step =simplified basic formula for net income
Multi Step = calculated in detail, such things as gross profit
The Income Statement
, Lesson 4: Revenues and Expenses
Income Statement:
o Revenues - Expenses = Net Income (or loss)
Consolidated Income Statements—USD ($)
Shares in Millions, $ in Millions
Dec. 31, Dec. 31, Dec. 31,
2018 2017 2016
Net sales and revenue
Automotive $133,045 $133,449 $140,205
Financial revenue 14,004 12,139 8,979
Total net sales and revenue 147,049 145,588 149,184
Costs and expenses
Automotive and other cost of 120,656 116,229 121,784
sales
Automotive and other selling, 9,650 9,570 10,345
general and administrative
expenses
GM financial interest, operating 12,298 11,128 8,369
General Need to Know
Single Step =simplified basic formula for net income
Multi Step = calculated in detail, such things as gross profit
The Income Statement
, Lesson 4: Revenues and Expenses
Income Statement:
o Revenues - Expenses = Net Income (or loss)
Consolidated Income Statements—USD ($)
Shares in Millions, $ in Millions
Dec. 31, Dec. 31, Dec. 31,
2018 2017 2016
Net sales and revenue
Automotive $133,045 $133,449 $140,205
Financial revenue 14,004 12,139 8,979
Total net sales and revenue 147,049 145,588 149,184
Costs and expenses
Automotive and other cost of 120,656 116,229 121,784
sales
Automotive and other selling, 9,650 9,570 10,345
general and administrative
expenses
GM financial interest, operating 12,298 11,128 8,369
