Basic Income Statement

Sales   
Sales
Other
Total Sales

Cost of Goods Sold (COGS)
Materials
Labor
Overhead
Other
Total Cost of Goods Sold

Gross Profit
Total Sales less COGS

Operating Expenses
Salaries and wages
Employee Benefits
Payroll taxes
Rent
Utilities
Repairs and maintenance
Insurance
Travel
Telephone
Postage
Office supplies
Advertising
Marketing and promotion
Professional fees
Licenses and permits
Training and development
Bank charges
Depreciation
Interest expense
Other
Total Operating Expense

Operating Income   
Gross Profit – Total Operating Expenses

Income (Loss) Before Taxes
Gross Profit – Operating Income

Income Taxes

Net Income (Loss)   
Income – Income Taxes

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