The following example shows the organization of an income statement based on the Fabrikam sample data. The procedures in this section demonstrate how to build this report.
| Income Statement |
| Summary of All Units |
| For the Eight Months Ending August 31, 2007 |
| |
|
|
| |
August |
YTD |
| Revenue |
|
|
| Sales |
1,246,298 |
8,385,586 |
| Sales Returns |
10,971 |
73,780 |
| Sales Discounts |
36,565 |
278,126 |
| Net Sales |
1,198,762 |
8,033,680 |
| |
|
|
| Cost of Goods Sold |
878,242 |
5,762,515 |
| |
|
|
| Gross Margin |
320,520 |
2,271,165 |
| |
|
|
| Operating Expenses |
|
|
| |
|
|
| Salaries and Wages |
98,466 |
752,351 |
| Office Expense |
5,048 |
38,478 |
| Supplies Expense |
22,382 |
153,456 |
| Rent Expense |
12,112 |
92,556 |
| Travel Expense |
7,694 |
58,776 |
| Total Operating Expenses |
145,702 |
1,095,617 |
| Net Income |
174,818 |
1,175,548 |
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