Is net income realized income?

Net operating income (must be a positive number, otherwise would be net operating loss) is the amount after expenses have been deducted out of sales, BUT before INTEREST and INCOME TAXES have been...

if by annual income you mean sum of all type of incomes during the year then yup its the net income.

Here is proforma of Income statement Sales xxxx - Cost of sales xxxx Gross profit xxxx -Selling and administration expenses xxxx -Other expeses xxxx Net Income xxxx

gross income less expenses

The standard formula for calculating income is SalesLess Cost of Goods SoldEquals Gross IncomeLess Selling, General, and Administrative ExpensesEquals Earnings Before Interest and Taxes (EBIT)Less:...