Open Space Marketing Solution Inc.
Income Statement
for the year ended December 2011
Revenue 12,344,310.42
Less: Cost of Sales
Direct Cost - Materials 1,478,051.71
Direct Cost - Labor 339,029.26
Direct Cost - Rental 1,943,080.12
Direct Cost - Others 130,929.65 3,891,090.74
Gross Profit 8,453,219.68
Less: Operating Expense
Salaries & wages 4,816,688.00
Office Supplies 89,177.58
Communication Exp. 177,759.55
Light & Water 172,675.00
Representation 142,677.23
Taxes & License 65,535.28
Transpo & Travel 55,901.64
Legal Fees 455,150.00
Rent Expense 317,500.00 6,293,064.28
Income Before Tax 2,160,155.54
Less: Provision for Income Tax 30% 64,804.66
Income After Tax 2,095,350.88
The 30% provision for income tax exercise only to Philippines setting. and this income statement pattern to a advertising company in the Philippines.
About Me
- The Red Writter
- im Jaded..i create this blog to share my little knowledge about what i've been taken from my college life and my greatest frustration in life is to develop my own accounting software..
I was wondering what type of software you've used to prepare such income statement example. This statement is looking nice and easy to get through. Instead of spreadsheets, I've found Panxpan to be a pretty cool analytics tools. Their finance summary module is very useful in researching your business expenses and revenue.
ReplyDelete