Extra expense coverage and business interruption insurance, which is also known as business income insurance, both help businesses stay afloat after property damage. But they cover different types ...

The insurance agent who sells the business income coverage policy must help the owner determine the amount of business income to cover. Also, policies may include an extra expense as a coverage ...

3. Knowing what your profit margin is. You can easily calculate the profit margin from your income statement, as the profit margin formula is (Total Revenue - Total Expenses) / Total Revenue.

An income statement is one of the three major financial statements that businesses issue. Learn how it is used to track revenue, expenses, gains, and losses.