Income Statement
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Sample Income Statement |
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|
Income |
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Gross Sales |
346,400 |
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Less returns and allowances |
1,000 |
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Net Sales |
345,400 |
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Cost of Goods |
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Merchandise Inventory, January 1 |
160,000 |
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Purchases |
90,000 |
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Freight Charges |
2,000 |
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Total Merchandise Handled |
252,000 |
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Less Inventory, December 31 |
100,000 |
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Cost of Goods Sold |
152,000 |
|
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Gross Profit |
193,400 |
|
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Interest Income |
500 |
|
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Total Income |
193,900 |
|
|
Expenses |
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Salaries |
68,250 |
|
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Utilities |
5,800 |
|
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Rent |
23,000 |
|
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Office Supplies |
2,250 |
|
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Insurance |
3,900 |
|
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Advertising |
8,650 |
|
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Telephone |
2,700 |
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Travel and Entertainment |
2,550 |
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Dues & Subscriptions |
1,100 |
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Interest Paid |
2,140 |
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Repairs & Maintenance |
1,250 |
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Taxes & Licenses |
11,700 |
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Total Expenses |
133,290 |
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Net Income |
$60,110 |
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Courtesy of http://www.smallbusinessnotes.com/
An analysis of the income statement is often supplemented with an analysis of thecompany’s cash flow statement summarizes all actual cash inflows and outflows for a company over a given fiscal quarter. The cash flow statement is supplemental in that it deals in actual cash flow while often times an income statement is prepared in accordance with accrual accounting methods that do not require reporting activities in terms of actual cash flows. Less
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