The examples of Income Statement and Balance Sheet are as follows:

A Traders
Balance Sheet
As at 31st Decembert’2020

ASSETS CAPITAL + LIABILITIES

Fixed Assets: Capital:
Land & Building xxx Opening balance xxx
Equipment xxx Add: Additional Investment xxx
Furniture & Fixture xxx Add: Net Profit xxx
Motor Vehicles xxx Less: Drawings xxx
Closing balance xxx

Current Assets: Long Term Liabilities:

Bank Loans xxx
Inventory xxx
Accounts Receivable xxx Current Liabilities:
Bank balance xxx Accounts Payable xxx
Cash in hand xxx Tax Payable xxx
___ ___
xxx xxx
=== ===

A Traders
Income Statement
As at 31st Decembert’2020
Sales xxx
Less: Cost of goods sold xxx
Gross Profit xxx
Less: Operating Expenses:
Selling & Distribution Expenses xxx
Administrative Expenses xxx xxx
Profit before tax xxx
Less: Income tax for the period xxx
Profit after tax xxx
===