Question
Mobile Oil Change Business Income Statement Attached is a framework to facilitate the development of the Income statement. Please complete the following Income Statement for
Mobile Oil Change Business Income Statement
Attached is a framework to facilitate the development of the Income statement.
Please complete the following Income Statement for a Mobile Oil Change Business.
INCOME STATEMENT
YEARS 1
From ____________ to _____________
Month 1 | Month 2 | Month 12 | Total | |||
Sales/Revenue | ||||||
Credit/Cash Sales | ||||||
Less Returns | ||||||
| Net Sales/Revenue | ||||||
| Cost of Goods Sold | ||||||
Gross Profit | ||||||
| Operating Expenses | ||||||
| Wages and Salaries | ||||||
Payroll Expenses | ||||||
| Professional Services | ||||||
Depreciation | ||||||
Repairs | ||||||
Maintenance | ||||||
Supplies | ||||||
| Advertising - Promotion | ||||||
Rent | ||||||
Interest on Loans | ||||||
Telephone | ||||||
Utilities | ||||||
Insurances | ||||||
Other Operating Expenses | ||||||
| Total Operating Expense | ||||||
| Profit Before Taxes | ||||||
Income Taxes | ||||||
. | Net Profits |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Understanding Corporate Annual Reports
Authors: William Pasewark
7th Edition
0073526932, 9780073526935
