Income Statement

For the Year Ended [Date]

Revenue:[List of revenue items]Total Revenue

Cost of Goods Sold:[List of cost of goods sold items]Total Cost of Goods Sold

Gross Profit:Total Revenue – Total Cost of Goods Sold

Operating Expenses:[List of operating expense items]Total Operating Expenses

Income Before Taxes:Gross Profit – Total Operating Expenses

Income Taxes:[List of income tax items]Total Income Taxes

Net Income:Income Before Taxes – Total Income Taxes

Additional Items:[List of any additional items, such as extraordinary items or non-operating income]

Net Income (Loss):Net Income + Additional Items

Cash Flow from Operations:[List of cash flow from operations items]

Cash Flow from Investing:[List of cash flow from investing items]

Cash Flow from Financing:[List of cash flow from financing items]

Net Change in Cash:Cash Flow from Operations + Cash Flow from Investing + Cash Flow from Financing

Cash Balance:Beginning Cash Balance + Net Change in Cash

Ending Cash Balance:Cash Balance

Notes:

• This is a template for an income statement, and the specific items may vary depending on the industry or company size.
• All amounts should be in dollars.
• Percentages can be used for some items, such as cost of goods sold or operating expenses.
• The income statement is used to track a company’s revenues, expenses, and net income.
• It is an important financial statement used by investors and creditors to assess a company’s financial health.