A B C D E F G H

Income Statement
3 Quinn Campbell FYXX Q2

Financial statements in U.S. dollars

4

5 REVENUE
6 Gross sales 500,654
7 Less: sales returns and allowances
8 Net sales $500,654
9

10 COST OF GOODS SOLD

11 Beginning inventory 123
12 Add: Purchases 65
13 Freight-in 2
14 Direct labor 12
15 Indirect expenses 5
16 Inventory available 207
17 Less: ending inventory 132
18 Cost of goods sold $75
19
20 Gross profit (loss) $500,579
21

22 EXPENSES
23 Advertising 332
24 Amortization 211
25 Bad debts 231
26 Bank charges 423
27 Charitable contributions 231
28 Commissions 242
29 Contract labor 560
30 Depreciation 445
31 Dues and subscriptions 546
32 Employee benefit programs 468
33 Insurance 464
34 Interest 872
35 Legal and professional fees 134
36 Licenses and fees 546
37 Miscellaneous 4,767
38 Office expenses 125
39 Payroll taxes 451
40 Postage 654
41 Rent 415
42 Repairs and maintenance 4,564
43 Supplies 54
44 Telephone 654
45 Travel 122
46 Utilities 455
47 Vehicle expenses 654
48 Wages 455,551
49 Total expenses $474,171
50
51 Net operating income $26,408
52

53 OTHER INCOME
54 Gain (loss) on sale of assets 25,112
55 Interest income 12,321
56 Total other income 20,021 $37,433
57
58 Net income (loss) $63,841
59

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