Income Statement Template (Sample)
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1<Company Name>
Income Statement
For the Period Ending <Date>
<Current Year> YTD
<Prior Year> YTD
Variance
Revenue
Sales
$
1,100,000.00
$
880,000.00
$
220,000.00
Sales Returns
5,000.00
4,000.00
1,000.00
Sales Discounts
40,000.00
32,000.00
8,000.00
<Other Revenue>
-
-
-
<Other Revenue>
-
-
-
<Other Revenue>
-
-
-
Net Sales
$
1,145,000.00
$
916,000.00
$
229,000.00
Cost of Goods Sold
850,000.00
680,000.00
170,000.00
Gross Profit
$
295,000.00
$
236,000.00
$
59,000.00
Operating Expenses
Salaries & Wages
$
125,000.00
$
100,000.00
$
25,000.00
Depreciation Expenses
5,000.00
4,000.00
1,000.00
Office Expenses
4,750.00
3,800.00
950.00
Rent Expense
11,500.00
9,200.00
2,300.00
Travel Expenses
7,500.00
6,000.00
1,500.00
Maintenance Expenses
1,500.00
1,200.00
300.00
Advertising Expenses
6,500.00
5,200.00
1,300.00
<Other Expense>
-
-
-
<Other Expense>
-
-
-
<Other Expense>
-
-
-
Total Operating Expenses
$
161,750.00
$
129,400.00
$
32,350.00
Income From Operations
$
133,250.00
$
106,600.00
$
26,650.00
Interest Income (Expense)
(1,000.00)
(800.00)
(200.00)
Income Before Income Tax $
132,250.00
$
105,800.00
$
26,450.00
Income Tax Expense
7,500.00
6,000.00
1,500.00
Net Income
$
124,750.00
$
99,800.00
$
24,950.00
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