For a better view of income statements, please copy and paste the following link for Commonwealth's income statement and look refer to pg 75 of the pdf file...https://www.commbank.com.au/content/dam/commbank/about-us/shareholders/pdfs/annual-reports/2016_Annual_Report_to_Shareholders_15_August_2016.pdf

go to https://www08.wellsfargomedia.com/assets/pdf/about/investor-relations/annual-reports/2014-annual-report.pdf and refer to income statement on page 32 for income statement of Wells Fargo

Below are income statements for 2 companies, the Commonwealth Bank of Australia and Wells Fargo of the USA, discuss the similarities and differences in the two statements in terms of format used, terminology, level of details provided in the statements and other differences you have noticed between the two companies. 300 words minimum

Commonwealth Bank income statement Income Statements For the year ended 30 June 2014 2014 2014 2013 2013 2012 Interest income 33,645 34,739 38.258 34,860 35,707 136) (21,494) 541 Net interest income 15.101 13,934 13,122 13,366 12,166 Other bank 4,320 4.172 4.039 6.378 5.609 19,421 Net banking operating income 18.106 17,161 19,744 17,775 2,356 1,959 Funds management income 2.147 Investment revenue 942 Claims, policyholder liability and commission expense (1,162) (1,242) Net funds management operating income 2,034 1,847 1,586 Premiums from insurance contracts 2,604 2,114 Investment revenue 547 449 547 Claims, policyholder liability and commission expense (2.1180 (1/6980 (1,879) from insurance contracts Net insurance oper 1.033 Total net operating income before impairment 2 22,488 20,876 19,710 19,744 17,775 and operating expenses (1.146) 089 Loan impairment expense 2.13 (918) (871) (1,042) (8,762) (19,573) (9085) 7,301) 10.645 Net profit before income tax 9,859 11,997 11,007 9432 Corporate tax expense A221) 2.899) 2.705) (2,565) 2.199) (126) tax expense Net profit after income tax 8,650 7.032 8,442 7,233 (16 (19) Net profit attributable to Equity holders of the 8,631 7618 7.016 8,442 7,233 Bank (1) Comparative information has been restated to refect the impact of changes in accounting policy.Referto Note 10 for more details. The above Income Statements should be read in conjunction with the accompanying notes. 2014 2013 2012 cents per share Earnings per share: 4742 444.2 521.9 461.0 4285 diluted (1) Comparative information has been restated to refect the impact of changes in accounting policy Referto Note 10 for more details. Commonwealth Bank income statement Income Statements For the year ended 30 June 2014 2014 2014 2013 2013 2012 Interest income 33,645 34,739 38.258 34,860 35,707 136) (21,494) 541 Net interest income 15.101 13,934 13,122 13,366 12,166 Other bank 4,320 4.172 4.039 6.378 5.609 19,421 Net banking operating income 18.106 17,161 19,744 17,775 2,356 1,959 Funds management income 2.147 Investment revenue 942 Claims, policyholder liability and commission expense (1,162) (1,242) Net funds management operating income 2,034 1,847 1,586 Premiums from insurance contracts 2,604 2,114 Investment revenue 547 449 547 Claims, policyholder liability and commission expense (2.1180 (1/6980 (1,879) from insurance contracts Net insurance oper 1.033 Total net operating income before impairment 2 22,488 20,876 19,710 19,744 17,775 and operating expenses (1.146) 089 Loan impairment expense 2.13 (918) (871) (1,042) (8,762) (19,573) (9085) 7,301) 10.645 Net profit before income tax 9,859 11,997 11,007 9432 Corporate tax expense A221) 2.899) 2.705) (2,565) 2.199) (126) tax expense Net profit after income tax 8,650 7.032 8,442 7,233 (16 (19) Net profit attributable to Equity holders of the 8,631 7618 7.016 8,442 7,233 Bank (1) Comparative information has been restated to refect the impact of changes in accounting policy.Referto Note 10 for more details. The above Income Statements should be read in conjunction with the accompanying notes. 2014 2013 2012 cents per share Earnings per share: 4742 444.2 521.9 461.0 4285 diluted (1) Comparative information has been restated to refect the impact of changes in accounting policy Referto Note 10 for more details