Can we use Income statement to calculate net profit

Hi Gurus,

We are in version 11.5.10

Our client requirement is to calculate net profit and then to pay corporate tax.

As first step, we need to calculate net profit.

Can we use Income Statement in GL in Year End Closing.

Any white paper on how it computes net profit?

How to exclude certain accounts like entertainment, dividend, etc in income calculation.

If income statement doesn't help, please guide me on how to handle this requirement

Can any shed light on this.

Thanks