LUMBER & BUILDING SUPPLY CO.
Income Statement
(For the Financial year ended Dec 31, 20XX)
|
Net Sales |
$ 727,116 |
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|
Cost of Goods Sold (COGS) |
$ 582,420 |
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|
GROSS PROFIT on Sales |
$ 144,696 |
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|
EXPENSES: |
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|
Drawings |
$ 14,544 |
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|
Wages |
$ 74,166 |
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|
Delivery Expenses |
$ 10,099 |
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|
Bad Debt allowance |
$ 4,373 |
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|
Communications |
$ 2,181 |
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|
Depreciation Allowance |
$ 4,382 |
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|
Insurance |
$ 6,543 |
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|
Advertising |
$ 2,180 |
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|
Other charges |
$ 8,358 |
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|
Total Operating Expenses |
$ 126,826 |
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|
OPERATING INCOME/ PROFIT [EBIT] |
$ 17,870 |
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|
Interest |
$ 4,000 |
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|
Taxes |
$ 10,907 |
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|
NET PROFIT INCOME after Interest and Taxes |
$ 2,963 |
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|
Other Income |
$ 2,179 |
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|
Total NET INCOME |
$ 5,142
|