Accountancy/Income Statement

The Income Statement is a financial statement that lists income, expenses, and profit for a given periods of time.

Income and Expenses can be classified into operating Income and Expenses, administration Expenses, and Financial Income and Expenses. Detailed Income statement for xxxxx retail Ltd, for year ending on 30 June, xxxx. Operating Income Sales Revenue                       x    less sales returns                  x                                        -- Net sales revenue                            x   Less Cost of sales beginning inventory                 x    add purchases                        x                                        --- cost of goods available for sale        x    less ending inventory                    x      Cost of Sales                                x                                                --- Gross Profit                                 x   add Other operating Income                    x     Discount received                           x                                                --- x Less expenses Operating Expense Sales staff salary expense      x              advertising expense              x       stores rent expense              x      stores depreciation expense      x                                       --- Total operating expense             x   Administration Expense Office staff salary expense     x       office rental expense            x      telephone expense                x      utilities expense                x       office supplies expense          x      office furniture and equipment depreciation expense  x      insurance expense                x        Total administration expense         x   Financial expense                   x     interest expense                  x        bad debts expense                 x     discount allowed expense          x                                     - total financial expense             x                                            --- x                                                --- Net profit excluding financial income           x

add Investment income                         x         add Finance income                             x Net profit before taxes                          x          taxation expense                               x  Net profit after tax                             x                                                ====