MANAGEMENT

Detailed explanation-1: -Pro forma income statement allows startups to create a hypothetical projection of your income and expenses. The foundation of a pro forma income statement focuses on various assumptions to make accurate quarterly or annual projections of revenue and expenses.

Detailed explanation-2: -Pro forma financial statements are projections of future expenses and revenues, based on a company’s past experience and future plans.

Detailed explanation-3: -An income statement shows a company’s revenues, expenses and profitability over a period of time. It is also sometimes called a profit-and-loss (P&L) statement or an earnings statement. It shows your: revenue from selling products or services.