Income Statement Templete
The following example shows some of the common elements of the Income Statement (also known as a Profit and Loss Statement).
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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
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