| TYPICAL INCOME STATEMENT FOR A SMALL COMPANY |
| ASSETS |
| Gross Sales |
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| Cash Discounts |
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| Net Sales |
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| Less Cost of goods sold: |
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| Beggining Inventory |
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| Plus: Net purchases |
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| Total |
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| Less: Ending inventory |
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| Cost of goods sold |
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| GROSS INCOME |
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| Less Operating expenses: |
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| Bank charges and interest |
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____________ |
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| Owner's salary |
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| Employee's wages |
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| Rent |
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| Utilities (heat, light, water, power) |
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| Supplies |
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| Repairs and Maintenance |
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| Advertising |
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| Delivery expense |
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| Taxes and licenses |
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| Depreciation |
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| Bad debts |
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| Miscellaneous expenses |
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| Total Operating Expenses |
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| Net Operating Income |
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| Income Tax (estimated) |
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| Net income after income taxes |
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