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Profit and Loss Format
Income Statement Templete
 

The following example shows some of the common elements of the Income Statement (also known as a Profit and Loss Statement).
.................................................................................................................................................................................................
Sample Company
Income Statement
January 1, xxxx to December 31, xxxx
.................................................................................................................................................................................................
Income
Gross Sales                                                                              346,400
Less returns and allowances                                                       1,000
Net Sales                                                                                                                    345,400

Cost of Goods
Merchandise Inventory, January 1                                          160,000
Purchases                                                                                   90,000
Freight Charges                                                                            2,000
Total Merchandise Handled                                                       252,000

Less Inventory, December 31                                                   100,000
Cost of Goods Sold                                                                                                      152,000
Gross Profit                                                                                                                 193,400

Interest Income                                                                               500
Total Income                                                                                                               193,900

Expenses
Salaries                                                                                         68,250
Utilities                                                                                            5,800
Rent                                                                                               23,000
Office Supplies                                                                                2,250
Insurance                                                                                        3,900
Advertising                                                                                      8,650
Telephone                                                                                        2,700
Travel and Entertainment                                                               2,550
Dues & Subscriptions                                                                       1,100
Interest Paid                                                                                    2,140
Repairs & Maintenance                                                                    1,250
Taxes & Licenses                                                                           11,700
Total Expenses                                                                                                               133,290

Net Income                                                                                                                      60,110
Category: My articles | Added by: Palakurthi (2010-06-28)
Views: 1487 | Comments: 1 | Rating: 0.0/0
Total comments: 1
1 kirsten johnson  
0
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