The income statement has been modified to separate the Loan Projects expense while still staying in compliance with what needs to be on the income statement. There is a section in bold letters that says “Total Operating Expenses” and “Excess Operating Revenues (Expenses)”, this only calculates the operating expenses so you can see the income/expenses that were budgeted. The section below that includes the other items and the net income/expenses with the Loan Projects.
Learn More
MAY 2023 Financials