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    Quinn Campbell's income statement for the second quarter of fiscal year XX shows net sales of $500,654 with a gross profit of $500,579. Total expenses for the quarter were $474,171, resulting in net operating income of $26,408. Additional other income of $37,433 including gains on asset sales and interest income led to net income for the quarter of $63,841.

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    Income statement 1 year

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    Quinn Campbell's income statement for the second quarter of fiscal year XX shows net sales of $500,654 with a gross profit of $500,579. Total expenses for the quarter were $474,171, resulting in net operating income of $26,408. Additional other income of $37,433 including gains on asset sales and interest income led to net income for the quarter of $63,841.

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    Download as XLSX, PDF, TXT or read online from Scribd
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    9 views1 page

    Income Statement 1 Year

    Uploaded by

    fgstrash
    Quinn Campbell's income statement for the second quarter of fiscal year XX shows net sales of $500,654 with a gross profit of $500,579. Total expenses for the quarter were $474,171, resulting in net operating income of $26,408. Additional other income of $37,433 including gains on asset sales and interest income led to net income for the quarter of $63,841.

    Copyright:

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

    Income Statement

    Quinn Campbell FYXX Q2

    Financial statements in U.S. dollars

    REVENUE
    Gross sales 500,654
    Less: sales returns and allowances
    Net sales $500,654

    COST OF GOODS SOLD


    Beginning inventory 123
    Add: Purchases 65
    Freight-in 2
    Direct labor 12
    Indirect expenses 5
    Inventory available 207
    Less: ending inventory 132
    Cost of goods sold $75

    Gross profit (loss) $500,579

    EXPENSES
    Advertising 332
    Amortization 211
    Bad debts 231
    Bank charges 423
    Charitable contributions 231
    Commissions 242
    Contract labor 560
    Depreciation 445
    Dues and subscriptions 546
    Employee benefit programs 468
    Insurance 464
    Interest 872
    Legal and professional fees 134
    Licenses and fees 546
    Miscellaneous 4,767
    Office expenses 125
    Payroll taxes 451
    Postage 654
    Rent 415
    Repairs and maintenance 4,564
    Supplies 54
    Telephone 654
    Travel 122
    Utilities 455
    Vehicle expenses 654
    Wages 455,551
    Total expenses $474,171

    Net operating income $26,408

    OTHER INCOME
    Gain (loss) on sale of assets 25,112
    Interest income 12,321
    Total other income 20,021 $37,433

    Net income (loss) $63,841

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