Sylvia's Music Company
Income Statement
Year Ended June 30, 2018
Net sales revenue		$ 1,88,000.00
Less: Cost of goods sold		$ 84,600.00
Gross profit		$ 1,03,400.00
Selling and administrative expenses
Selling expenses	$ 19,000.00
Administrative expenses	$ 14,500.00
Total Selling and administrative expenses		$ 33,500.00
Operating income		$ 69,900.00
Other non operating expenses
Interest expense	$ 1,100.00
Total other non operating expenses		$ 1,100.00
Net income (Loss)		$ 68,800.00

June 30, 2018 Balance Account Title Debit Credit