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    Account Reports

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    19811210
    The income statement shows that for the year ending Dec 31, 2017 the company had total revenues of $180,000, an increase from $157,000 in the previous year. Total expenses in 2017 were $142,660, up from $132,200 in 2016. This resulted in net income before taxes of $37,340 in 2017 and $24,800 in 2016. The company's net income was $22,404 in 2017 compared to $14,880 in 2016.

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    Account Reports

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    19811210
    32 views1 page
    The income statement shows that for the year ending Dec 31, 2017 the company had total revenues of $180,000, an increase from $157,000 in the previous year. Total expenses in 2017 were $142,660, up from $132,200 in 2016. This resulted in net income before taxes of $37,340 in 2017 and $24,800 in 2016. The company's net income was $22,404 in 2017 compared to $14,880 in 2016.

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    The income statement shows that for the year ending Dec 31, 2017 the company had total revenues of $180,000, an increase from $157,000 in the previous year. Total expenses in 2017 were $142,660, up from $132,200 in 2016. This resulted in net income before taxes of $37,340 in 2017 and $24,800 in 2016. The company's net income was $22,404 in 2017 compared to $14,880 in 2016.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    32 views1 page

    Account Reports

    Uploaded by

    19811210
    The income statement shows that for the year ending Dec 31, 2017 the company had total revenues of $180,000, an increase from $157,000 in the previous year. Total expenses in 2017 were $142,660, up from $132,200 in 2016. This resulted in net income before taxes of $37,340 in 2017 and $24,800 in 2016. The company's net income was $22,404 in 2017 compared to $14,880 in 2016.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 1

    [Company Name] Income Statement

    For the Years Ending [Dec 31, 2014 and Dec 31, 2013]

    Revenue 2017 2016


    Sales revenue 110,000 95,000
    (Less sales returns and allowances)
    Service revenue 70,000 62,000
    Interest revenue
    Other revenue
    Total Revenues 180,000 157,000
    [42]

    [42]

    Expenses
    Advertising 1,000 1,000
    Bad debt
    Commissions
    Cost of goods sold 65,000 63,000
    Depreciation
    Employee benefits
    Furniture and equipment 8,000
    Insurance
    Interest expense 4,200 5,200
    Maintenance and repairs
    Office supplies
    Payroll taxes
    Rent
    Research and development
    Salaries and wages 55,000 55,000
    Software
    Travel
    Utilities
    Web hosting and domains
    Other 17,460
    Total Expenses 142,660 132,200

    Net Income Before Taxes 37,340 24,800


    Income tax expense 14,936 9,920

    Income from Continuing Operations 22,404 14,880


    {42} [42]

    Below-the-Line Items
    Income from discontinued operations
    Effect of accounting changes
    Extraordinary items

    Net Income 22,404 14,880

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