the Condensed Income Statement
A condensed income statement is typically issued to external parties, who are less interested in the precise sources of a company’s revenues or expenses, and more concerned with its overall performance. Supplementary schedules can be used to support the totals on the statement.
| Entity Name |
|---|
| Income Statement |
|---|
| For the
period Ended date |
|---|
| |
| Net sales |
|
$ 4,060,552 |
|
| Cost of goods sold |
|
2,689,354 |
|
| Gross profit |
|
1,371,198 |
|
| Selling expenses |
603,936 |
|
|
| Administrative expenses |
346,327 |
950,263 |
|
| Income from operations |
|
420,935 |
|
| Other revenues and gains |
|
109,708 |
|
|
|
530,643 |
|
| Other expenses and losses |
|
188,655 |
|
| Income before income tax |
|
341,988 |
|
| Income tax |
|
133,375 |
|
| Net income for the period |
|
$ 208,613 |
|
|
|
|
|
| Earnings per common share |
|
$ 1.80 |
|
|
|
|
|
|
|
|
|