Business Consulting company
Income Statement
For the Year Ended December 31, 2017
Revenue:
Consulting revenue earned				$98,000
Expenses:
Cost of goods sold			$46,500
Rent expense			$3,700
Salary expense (by production)			$5,500
Equipment expense			$2,000
Utilities (by production)			$4,600
Income before income tax				_________
Income Tax expense				17,400
Net Income				_________

Check the Income statement of the consulting company and calculate the following:

Net Income:

Gross Profit (Revenue-Cost of good sold):

Please split the expenses (list the items and then calculate the total) into fixed costs and variable costs:

Fixed costs:

Variable costs: