Sample Income Statement
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The income statement is a very common business financial report. Every business owner should be able to read, and understand, an income statement. Using the income statement and other financial statements, you can calculate ratios which will help you analyze the performance of your business. You will want to include a projected income statement in your business plan.
The income statement shows the revenue and expenses for a given period of time. Here is a sample income statement:
XYZ Corporation | |||
Revenue |
|
| $1,000,000 |
Cost of goods |
|
|
|
Beginning inventory | $40,000 |
|
|
Net purchases | 150,000 |
|
|
Cost of goods available for sale | 190,000 |
|
|
Less: ending inventory | (50,000) |
|
|
Cost of goods sold |
| ($140,000) |
|
Gross margin |
|
| 860,000 |
Expenses |
|
|
|
Selling expenses | $150,000 |
|
|
General and administrative expenses | 200,000 |
|
|
Total operating expenses |
| ($350,000) |
|
Income from operations |
|
| $510,000 |
Other revenue |
|
|
|
Interest | $1,000 |
|
|
Dividends | 500 |
|
|
Gain from sale of equipment | 10,000 |
|
|
|
| $11,500 |
|
|
|
| $521,500 |
Other expenses |
|
|
|
Interest |
| ($21,500) |
|
Income before taxes and extraordinary items |
|
| $500,000 |
Income tax expense |
| ($165,000) |
|
Income before extraordinary items |
|
| $335,000 |
Extra ordinary items |
| ($35,000) |
|
Net Income |
|
| $300,000 |
The Financial Templates from Business Plan Success make it easy to create an accurate income statement for your business plan.
Find out more about how Business Plan Success can create your business plan financial statements.
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