Income Statement Example - Forecasting

FORECASTED INCOME STATEMENT
SCHOLARSHIP INFORMATION SERVICES
FOR YEARS ENDING DECEMBER 31, 200X  and  200Y
DEC. 31, 200X DEC. 31, 200Y
Sales (sales schedule) $104,000 $192,000
Cost of Goods Sold (COGS schedule) $12,000 $26,141
GROSS MARGIN $92,000 $165,859
OPERATING EXPENSES:
Marketing Expenses:
Promotional Pamphlet Expense $4,000 $2,000
University Advertising Expense $8,000 $12,000
Newspaper Advertising Expense $25,998 $34,998
Total Marketing Expenses $37,998 $48,998
Administrative Expenses:
Office Salaries Expense $15,600 $36,400
Employer Costs (11% of Salary) $1,716 $4,004
Office Supplies Expense $2,500 $3,000
Business Cards, etc. Expense $250 $0
Printing of Checks Expense $75 $0
Telephone Expense $1,200 $2,400
Business Registration Expense $1,200 $0
Message Centre Expense $4,600 $8,600
Toll Free Services Expense $9,600 $19,200
Credit Card Service Expense $4,992 $9,216
Bank Charges Expense $240 $480
Miscellaneous Expenses $1,800 $3,600
Depreciation Expense, Auto $1,000 $2,000
Depreciation Expense, Office Equipment $1,400 $3,200
Total Administrative Expenses $46,173 $92,100
TOTAL OPERATING EXPENSES $84,171 $141,098
Income before taxes $7,829 $24,761
Income taxes (assume 30%) $2,349 $7,428
NET INCOME AFTER TAXES $5,480 $17,333
Note: figures are rounded to the nearest dollar
Categories: Samples and Examples