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What type of income statement does the Company Prepare? How can you tell? Statement of Income For the month ended January 31 2018 Sales Revenue
What type of income statement does the Company Prepare? How can you tell?
Statement of Income | |
For the month ended January 31 | |
2018 | |
Sales Revenue | $381,000 |
Cost of Goods Sold: | 216,000 |
Gross Profit Margin | 165,000 |
Operating expenses | |
Depreciation expense | 308 |
Rent expense | 1,250 |
Wages expense | 27,200 |
Total operating expenses | 28,758 |
Operating income | |
Other Revenues and Expenses | |
Service Revenue | 19,167 |
Total Other Revenues and Expense | 19,167 |
Income before tax | 155,408 |
Income tax expense | 34,000 |
Net Income (Loss): | 121,408 |
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