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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
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