You report gains on the sale of assets as non-operating income on your income statement. To measure the gain, subtract the value of the asset in your ledgers from the sale price.

Understand net income: its definition, calculation method, and its critical role in business decisions and tax reporting. Learn how to assess company profitability effectively.

How to calculate net income The basic formula Net income is typically found on a company's income statement, which is also called a Profit and Loss statement (P&L).

Learn what net income means for businesses and individuals, how it's calculated, and why it's a crucial financial metric.