|
XYZ Income Statement for Period Ending xx,xx,xxxx
|
|
|
|
|
Sales |
$100,000
|
|
Less:
|
|
|
Sales Discounts
|
1,000
|
|
Sales Return & Allowances
|
1,000
|
|
|
|
|
Net Sales
|
98,000 |
|
|
|
|
Cost Of Goods Sold
|
|
|
Beginning Inventory
|
25,000
|
|
Purchases
|
90,000
|
|
Inventory Available For Sale
|
115,000
|
|
Less:Ending Inventory
|
30,000
|
|
|
|
|
Cost Of Goods Sold
|
85,000
|
|
|
|
|
Gross Profit
|
13,000 |
|
|
|
|
Operating Expenses
|
|
|
Salaries
|
10,000
|
|
Supplies
|
3,000
|
|
Utilities
|
5,000
|
|
Advertising
|
2,000
|
|
Maintenance & Repairs
|
2,000
|
|
|
|
|
Total Operating Expenses
|
22,000
|
|
|
|
|
Net Loss
|
$ -9,000
|
|
|
|
|
XYZ Capital Statement
|
|
|
Beginning Owner's Capital
|
$147,000
|
|
Less: Loss
|
9,000
|
|
Less: Owner's Draws
|
20,000
|
|
|
|
|
Ending Owner's Capital
|
$118,000
|
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