LUMBER & BUILDING SUPPLY CO.
Income Statement 
(For the Financial year ended Dec 31, 20XX)

Net Sales

     

$ 727,116

Cost of Goods Sold (COGS)

     

$ 582,420

         
   

GROSS PROFIT on Sales

 

$ 144,696

         

EXPENSES:

       
 

Drawings

 

$ 14,544

 
 

Wages

 

$ 74,166

 
 

Delivery Expenses

 

$ 10,099

 
 

Bad Debt allowance

 

$ 4,373

 
 

Communications

 

$ 2,181

 
 

Depreciation Allowance

 

$ 4,382

 
 

Insurance

 

$ 6,543

 
 

Advertising

 

$ 2,180

 
         
 

Other charges

 

$ 8,358

 
         
   

Total Operating Expenses

$ 126,826

 
         
   

OPERATING INCOME/ PROFIT [EBIT]

 

$ 17,870

         
 

Interest

 

$ 4,000

 
 

Taxes

 

$ 10,907

 
         
   

NET PROFIT INCOME after Interest and Taxes

 

$ 2,963

   

Other Income

 

$ 2,179

         
   

Total NET INCOME

 

$ 5,142 

Our website is protected by DMC Firewall!