Income Statement Worksheet
Revenue:
	Gross Sales
	Less:	Sales Returns and Allowances
	Net Sales
Cost of Goods Sold:
	Beginning Inventory
	Add:	Purchases
		Freight-in
		Direct Labor
		Indirect Expenses
	Less:	Ending Inventory
	Cost of Goods Sold
	Gross Profit (Loss)
Expenses:
	Advertising
	Auto Expenses
	Bad Debts
	Bank Charges
	Charitable Contributions
	Cleaning Supplies
	Contract Labor
	Delivery Expenses
	Depreciation Expense
	Dues and Subscriptions
	Insurance
	Interest
	Lease Payments
	Memberships
	Miscellaneous
	Office Expenses
	Payroll Taxes
	Permits and Licenses
	Postage
	Professional Fees
	Property Taxes
	Rent
	Repairs
	Telephone
	Trade Magazines/Publications
	Travel
	Uniforms
	Utilities
	Wages
	Total Expenses
	Net Operating Income
Other Income:
	Gain (Loss) on Sale of Assets
	Interest Income
	Total Other Income
Net Income (Loss)

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