#cfa-level-1 #reading-25-understanding-income-statement
Net income also includes
gains and
losses , which are increases and decreases in economic benefits, respectively, which may or may not arise in the ordinary activities of the business.
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2. COMPONENTS AND FORMAT OF THE INCOME STATEMENTanone and €160 million is attributable to minority interests. For Kraft, $3,021 million of the net earnings amount is attributable to the shareholders of Kraft Foods and $7 million is attributable to the non-controlling interest.
<span>Net income also includes gains and losses , which are increases and decreases in economic benefits, respectively, which may or may not arise in the ordinary activities of the business. For example, when a manufacturing company sells its products, these transactions are reported as revenue, and the costs incurred to generate these revenues are expenses and are presente Summary
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