When selecting a product line, a business may consider lost contribution margin or generate comparative income statement.
An income statement, also known as a profit and loss account, is one of a company's financial statements and displays the company's receipts and outlays for a specific time period. It explains how net income or net profit is generated from revenues.
You can see the company's profits and expenses on this financial statement. Additionally, it reveals whether a business is profitable or not.
As a result, a corporation may construct a comparative income statement or concentrate on lost contribution margin and unnecessary fixed expenses when choosing a product line.
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