Simple Income Statement

A simple income statement is a document which contains the details of the net revenue and expense, during a specific period of time, usually one year. It is also known as a profit and loss statement. It also shows the amount of net income, from the given revenues and expenses. The main purpose of creating an income statement is to show, whether a person or company is making profit or loss in a financial year.

Sample Simple Income Statement:

Personal Income Statement

Name of the individual: Mr. Henry Rogers.

Income statement for the time period: January 2010 to January 2011.

Date of preparation: 10th of February, 2011.

Purpose: this income statement is prepared to analyze the person’s net income for a year, before he can opt for any other insurance scheme or savings proposal.

Income Amount in $

Job at cell phone company                                                      239000

Private business                                                                       100000

Job as copywriter                                                                       55000

Job as manager                                                                         250000

From house rent                                                                         19990

From monthly return scheme                                                     12000

Part time jobs                                                                             18000

Total Income                                                                            693990

Expenses Amount in $

Dining for two members                                                           36000

Education of children                                                                13000

Gas for cooking                                                                           1500

Insurance, health and home                                                       25000

Phone, landline                                                                            1900

Other expenses                                                                           12000

TOTAL expenses                                                                      89400

NET INCOME 604590

Thus the above report conveys that the net income of the person is $ 604590, which tells us that his savings is more than his expenses.

I hereby agree that all information and figures proposed above are true and authentic.

______________________                                                ______________________

(Signature of the person)                                                         (Signature of accountant)

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