IncomeStatement

YOUR BUSINESS NAME

Income Statement for the year ending _____________

(Row listing each month)

REVENUE

REVENUE: ServicesService 1Service 2Service 3TOTAL REVENUE: Services

REVENUE: MiscellaneousBank InterestTOTAL REVENUE: MISCELLANEOUS

TOTAL REVENUE

EXPENSES

DIRECT COSTSMaterialsEquipment RentalsSalary Wages

TOTAL DIRECT COSTS

GENERAL AND ADMINISTRATIONAccounting and Legal FeesAdvertising and PromotionBad DebtsBank ChargesDepreciation and AmortizationInsuranceInterestOffice RentTelephoneUtilitiesCredit Card CommissionsCredit Card ChargesTOTAL GENERAL AND ADMINISTRATION

TOTAL EXPENSES

NET INCOME BEFORE INCOME TAXES

INCOME TAXES

NET INCOME

Cash Flow Projection

CASH FLOW PROJECTIONS

(Add a row of monthly headings to cover one year period)

CASH REVENUES-Revenue from Product Sales-Revenue from Service SalesTOTAL CASH REVENUES

CASH DISBURSEMENTS-Cash Payments to Trade Suppliers-Management Draws-Salaries and Wages-Promotion Expense Paid-Professional Fees Paid-Rent/Mortgage Payments-Insurance Paid-Telecommunications Payments-Utilities PaymentsTOTAL CASH DISBURSEMENTS

RECONCILIATION OF CASH FLOW-OPENING CASH BALANCE :-ADD: TOTAL CASH REVENUES -DEDUCT: TOTAL CASH DISBURSEMENTSCLOSING CASH BALANCE

Balance Sheet

YOUR COMPANY NAME

BALANCE SHEET As At __________ (Date)

ASSETS

Current AssetsCash in BankPetty CashNet CashInventoryAccounts ReceivablePrepaid InsuranceTotal Current Assets

Fixed AssetsLandBuildingsLess DepreciationNet Land & Buildings

EquipmentLess DepreciationNet Equipment

TOTAL ASSETS

LIABILITIES

Current LiabilitiesAccounts PayableVacation PayableFederal Income Tax PayableTotal Canada Customs & RevenueWCB PayablePension PayableUnion Dues PayableMedical PayableTotal Current Liabilities

Long-Term LiabilitiesLong-Term LoansMortgageTotal Long-Term Liabilities

TOTAL LIABILITIES

EQUITY

EARNINGSOwner's Equity - Capital

Retained EarningsCurrent EarningsTotal Earnings

TOTAL EQUITY