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Income Statement: Artwork Company's Name

The document provides an income statement template for a company called Artwork covering the period from September 1, 2017 to August 31, 2022. The template includes sections to report revenue, cost of goods sold, expenses and gross profit/loss and is intended to be a simple tool for small and medium enterprises to assess financial performance and for use in applications like loans or tax filings. Fields are provided to input sales data by product as well as costs of goods sold by material to automatically calculate totals.

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Franz
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70 views3 pages

Income Statement: Artwork Company's Name

The document provides an income statement template for a company called Artwork covering the period from September 1, 2017 to August 31, 2022. The template includes sections to report revenue, cost of goods sold, expenses and gross profit/loss and is intended to be a simple tool for small and medium enterprises to assess financial performance and for use in applications like loans or tax filings. Fields are provided to input sales data by product as well as costs of goods sold by material to automatically calculate totals.

Uploaded by

Franz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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INCOME STATEMENT

Artwork
Company's name

Definition

The income statement measures a company's financial performance


over a specific accounting period.

Financial performance is assessed by giving a summary of how the


business incurs its revenues and expenses through both operating and
non-operating activities. It also shows the net profit or loss incurred over a
specific accounting period. The income statement is important because it
shows the profitability of a company during the time interval specified in its
heading. The period of time that the statement covers is chosen by the
business and can vary.
The income statement is sometimes referred to as the profit and loss
statement (P&L), statement of operations, or statement of income.

How to use this tool

This is intended to be a simple and practical tool to be adjusted and used


by SMEs working in all sectors. You may adapt it to reflect your business
needs, type of clientele, products and services you offer. It provides the
minimum information required by financial institutions for assessing loan
applications, tax authorities and potential investors.

Fill in the white cells, totals will be calculated automatically


INCOME STATEMENT
Artwork
For the year ended 09/30/18
September 1, 2017 - August 31, 2022
Revenue: 89,889,968.75
Gross Sales 90,091,968.75
Less: Sales Returns and Allowances 202,000.00
Cost of Goods Sold: 85,048,125.00
Materials 85,048,125.00
Other direct expenses 0.00
Gross Profit (Loss) 4,841,843.75

Other Income: 0.00


Discount received 0.00
Rental income 0.00
Gain (Loss) on Sale of Assets 0.00
Interest received 0.00
Gross Income 4,841,843.75
Expenses:
Financial expenses 0.00
Bank Charges and commissions 0.00
Interest 0.00
Personnel expenses 1,500,000.00
Wages 1,500,000.00
Payroll Taxes 0.00
Marketing expenses 460000
Sponsorships 90000
Magazine Ad 250,000
Mall Rental fee 100,000
Social Media Boost 20000

Page 2
SALES CALCULATION
PRODUCTS / SERVICES UNITS/MONTH UNIT PRICE MONTHLY SALES

Queen-sized sofa bed 95 30,600.00 2,907,000.00


Sofa 80 26,400.00 2,112,000.00
Dining table 75 28,700.00 2,152,500.00
-
-
-
-
-
-
-
-
TOTAL 250.00 7,171,500.00

COST OF GOODS SOLD CALCULATION


MATERIALS UNITS/MONTH UNIT PRICE MONTHLY COSTS

Wood (mahogany/narra) 1,275,000.00


Utilities 1,285,000.00
Office supplies 125,000.00
Machineries 1,250,000.00
Labor 2,175,000.00
Glass 375,000.00
Sheets 76,000.00
Pillows 209,000.00
-
-
TOTAL 0.00 6,770,000.00

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