Create a financial statement for your hypothetical new business venture. Using the attached Excel template, and based on surveying a specific market place, make a best-guess estimated statement exhibiting profit and loss. In business, accuracy counts, so make sure to check and recheck your numbers before submitting your financial statements. Your grade will be based on the completeness and accuracy of the Income Statement
| [Your Company Name] | |||||||
| Income Statement | |||||||
| For the Year Ended [Month/Date/Year] | |||||||
| Revenue: | |||||||
| Gross Sales | $0.00 | ||||||
| Less: | Sales Returns and Allowances | $0.00 | |||||
| Net Sales | $0.00 | ||||||
| Cost of Goods Sold: | |||||||
| Beginning Inventory | $0.00 | ||||||
| Add: | Purchases | $0.00 | |||||
| Direct Labor | $0.00 | ||||||
| Indirect Expenses | $0.00 | ||||||
| $0.00 | |||||||
| Less: | Ending Inventory | $0.00 | |||||
| Cost of Goods Sold | $0.00 | ||||||
| Gross Profit (Loss) | $0.00 | ||||||
| Expenses: | |||||||
| Advertising | $0.00 | ||||||
| Bank Charges | $0.00 | ||||||
| Commissions | $0.00 | ||||||
| Contract Labor | $0.00 | ||||||
| Credit Card Fees | $0.00 | ||||||
| Delivery Expenses | $0.00 | ||||||
| Dues and Subscriptions | $0.00 | ||||||
| Insurance | $0.00 | ||||||
| Interest | $0.00 | ||||||
| Maintenance | $0.00 | ||||||
| Miscellaneous | $0.00 | ||||||
| Office Expenses | $0.00 | ||||||
| Payroll | $0.00 | ||||||
| Permits and Licenses | $0.00 | ||||||
| Postage | $0.00 | ||||||
| Professional Fees | $0.00 | ||||||
| Property Taxes | $0.00 | ||||||
| Rent | $0.00 | ||||||
| Telephone | $0.00 | ||||||
| Travel | $0.00 | ||||||
| Utilities | $0.00 | ||||||
| Total Expenses | $0.00 | ||||||
| Net Operating Income | $0.00 | ||||||
| Other Income: | |||||||
| Gain (Loss) on Sale of Assets | $0.00 | ||||||
| Interest Income | $0.00 | ||||||
| Total Other Income | $0.00 | ||||||
| Net Income (Loss) | $0.00 | ||||||
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