Income Statement Example

Income Statement Example - 25,000 Items that are unusual or...

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Sales Revenue Sales 8,000,000 Less: Sales Discounts 50,000 Less: Sales Returns 10,000 Net Sales Revenue 7,940,000 Cost of Goods Sold 2,500,000 Gross Profit 5,440,000 Operating Expenses Selling Expenses Sales Payroll 800,000 Sales Commissions 250,000 Sales Travel 125,000 All Other Sales Related Expenses 225,000 Total Selling Expenses 1,400,000 Adminstrative Expenses Officers Payroll 900,000 Staff Payroll 750,000 Utilities 300,000 400,000 All Other Administrative Expenses 200,000 Total Administrative Expenses 2,550,000 3,950,000 Income From Operations 1,490,000 Other Revenues and Gains Dividend Revenue 6,000 Rental Revenue 24,000 Other Revenues and Gains that are not from the central operations of the business 10,000 Items that are unusual or infrequent, but not both 28,000 Total Other Revenues and Gains 68,000 Other Expenses and Losses Interest Expense 72,000 Losses on foreign currency exchange 112,000 Other Expenses and Losses that are not from the central operations of the business
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Unformatted text preview: 25,000 Items that are unusual or infrequent, but not both 125,000 Total Other Expenses and Losses 334,000 Income Before Income Tax 1,088,000 Income Tax 435,200 Income From Continuing Operations 652,800 Dewey, Cheatum & Howe Income Statement for the year ended December 31, 2011 Income From Continuing Operations 652,800 Discontinued Operations Loss from operation of discontinued operation 145,000 Less: Applicable Income Tax 58,000 Loss from disposal of discontinued operation 85,000 Less: Applicable Income Tax 34,000 Loss from discontinued operation 138,000 Income before extraordinary item 514,800 Extraordinary Items Extraordinary item material, both unusual and infrequent (net of tax) Loss from expropriation of property in S. America 180,000 Less: Applicable Income Tax 72,000 Net Extraordinary Loss 108,000 Net Income 406,800 Dewey, Cheatum & Howe Income Statement for the year ended December 31, 2011 Page 2 of 2...
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Income Statement Example - 25,000 Items that are unusual or...

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