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  • Sample Traditional Income Statement

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    Shanika Conley
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    Sales. $60,000 Less cost of goods 34,000 sold. Gross margin. 26,000 Less operating expenses: Selling. $15,000 Administrative. 6,000 21,000 Net operating income. $ 5,000 Contains both variable and fixed elements since this is an income statement for a manufacturing company.

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    Sales. $60,000 Less cost of goods 34,000 sold. Gross margin. 26,000 Less operating expenses: Selling. $15,000 Administrative. 6,000 21,000 Net operating income. $ 5,000 Contains both variable and fixed elements since this is an income statement for a manufacturing company.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    21 views1 page

    Sample Traditional Income Statement

    Uploaded by

    Shanika Conley
    Sales. $60,000 Less cost of goods 34,000 sold. Gross margin. 26,000 Less operating expenses: Selling. $15,000 Administrative. 6,000 21,000 Net operating income. $ 5,000 Contains both variable and fixed elements since this is an income statement for a manufacturing company.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    Traditional Approach (costs organized by function) Sales........................... $60,000 Less cost of goods 34,000 sold*......................... Gross margin..............

    26,000 Less operating expenses: Selling*..................... $15,000 Administrative*......... 6,000 21,000 Net operating income. $ 5,000

    * Contains both variable and fixed elements since this is the income statement for a manufacturing company. If this were a merchandising company, then the cost of goods sold would be entirely variable.

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