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Sample of Income Statement

The income statement shows sales revenue of $26,590 with cost of goods sold of $12,000, resulting in a gross profit of $14,590. Total operating expenses were $5,630, including wages, utilities, depreciation and insurance expenses. Operating income was $8,960 with interest expenses of $970, giving income before tax of $7,990. With taxes at a 10% rate of $799, net income for the period was $7,191.

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Atiqullah sherzad
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65 views

Sample of Income Statement

The income statement shows sales revenue of $26,590 with cost of goods sold of $12,000, resulting in a gross profit of $14,590. Total operating expenses were $5,630, including wages, utilities, depreciation and insurance expenses. Operating income was $8,960 with interest expenses of $970, giving income before tax of $7,990. With taxes at a 10% rate of $799, net income for the period was $7,191.

Uploaded by

Atiqullah sherzad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Income Statement

Sales revenue 26,590 Tax rate 10%


Cost of Goods sold (12,000)
-
Gross profit 14,590

Operating exp

Wages expenses (1,870)


Utilities expenses (2,430)
Depreciation exp (530)
Insurance exp (800) all are negative

Total Operating exp (5,630)

Operating income 8,960

Interest exp -970


Income before income tax 7,990
Income Tax exp 799

Net Income 7,191

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