ABC Merchandising Co.

Income Statement
For the Month/Year Ended on …
Description Tk Tk
Sales xxx
Less: Sales Return/Discount/Allowance (xxx)
Net Sales xxx
Less: Cost of Goods Sold (COGS) (xxx)
Gross Profit XXX
Less: Operating Expenses(Admin & Selling Exp.) (XXX)
Net Operating Income (NOI) XXX
Add: Non-Operating Revenue/ Gain (If Any) xxx
Less: Non-Operating Expense/ Loss (If Any) (xxx)
Net Income (NI) XXX

Calculation of Cost of Goods Sold (COGS):

Description Tk
Purchase XXX
Less: Purchase Return/Discount/Allowance (XXX)
Net Purchase XXX
Add: Transportation-In/Freight-In XXX
Cost of Goods Purchased XXX
Add: Beginning Inventory XXX
Goods Available for Sale XXX
Less: Ending Inventory (XXX)
Cost of Goods Sold (COGS) XXX