When completing a form 216 operating income statement, how should we treat any income from owner-occupied units?

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18-08-2022
Business

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When completing a form 216 operating income statement, how should we treat any income from owner-occupied units?

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vtalishathapar vtalishathapar · Answer 1 · 2022-08-25T16:39:55+02:00

When completing a form 216 operating income statement U.S. Customs and Border Protection's Form 216 is an application for a permit to conduct business in a foreign-trade zone.

What are non-operating items?

The revenue and expenses incurred in the normal course of business operations are classified as non-operating items. In a company's financial statements, non-operating items are always disclosed separately from operating items.

Operating income, also known as income from operations, is calculated by deducting all operating costs from a company's gross income, which is equal to total revenue minus COGS. Operating costs are those incurred by a business during regular business operations and include things like office supplies and utilities.

Learn more about Operating Income here:

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