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
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
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