A business income statement reveals the profits and losses of a business at the end of a financial year. It is a measure of the respective contributions made by the various business components that makes an estimate of the total income. It is conducted by an accountant especially trained in this sphere who prepares it by analysing the situation meticulously.
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Sample Business Income Statement
Name of the business: Sedan Pharmaceuticals
Nature of business: The business is spread over a limited area that deals with medicines and drugs and is sold to chemist stores, hospitals, clinics and private doctors.
Statement accounted for the period of: 4th June, 2011 to 7th September, 2011
Statement finalised by: Miss Jessica Fun, Consultant Accountant
Income Statements of the Business
The following shows the individual income specifications of the business for the said time period by conducting the required calculations.
Profits incurred from the following operations:
Gross transaction of business: $70, 000.00
Additional allowances and returns: $50, 000.00
Extra benefits from hospital and clinics: $30, 000.00
Advantages acquired from doctors’ references: $60, 000.00
Net profit of the business: $2, 10,000.0
Costs incurred from the following operations:
Purchase of resources: $40, 000.00
Freight charges: $20, 000.00
Total cost incurred: $60, 000.00
Investments and other expenses incurred from the following operations:
Labour wages: $10, 000.00
Salesmanship expense: $5000.00
Advertisement cost: $5000.00
Electricity, telephone and internet charges: $7000.00
Tax payments: $10,000.00
Debt clearances: $8000.00
Insurances: $20, 000.00
Total expenses incurred: $68, 000.00
Net income from the business transactions:
$2, 10, 000-$60, 000 -$68, 000
= $82, 000.00
Accountant’s signature: ____________________________