September 14, 2007, Newsletter Issue #182: Sample Income Statement (P&L)
Tip of the Week
Revenue:
Gross Sales
Less: Sales Returns and Allowances
Net Sales
Cost of Goods Sold:
Beginning Inventory
Add:
Purchases
Freight-in
Direct Labor
Indirect Expenses
Less:
Ending Inventory
Cost of Goods Sold
Gross Profit (Loss)
Expenses:
Advertising
Amortization
Bad Debts
Bank Charges
Charitable Contributions
Commissions
Contract Labor
Credit Card Fees
Delivery Expenses
Depreciation
Dues and Subscriptions
Insurance
Interest
Maintenance
Miscellaneous
Office Expenses
Operating Supplies
Payroll Taxes
Permits and Licenses
Postage
Professional Fees
Property Taxes
Rent
Repairs
Telephone
Travel
Utilities
Vehicle Expenses
Wages
Total Expenses
Net Operating Income
Other Income:
Gain (Loss) on Sale of Assets
Interest Income
Total Other Income
NET INCOME (LOSS)
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