Columbia Arms Income Statement

For the Years Ending [Dec 31, 2014 and Dec 31, 2015]

Revenue 2015
Sales revenue 150,000
(Less sales returns and allowances)
Service revenue -
Interest revenue
Other revenue
Total Revenues 150,000
[42]

[42]

Expenses
Advertising 4,000
Bad debt 12,136
Commissions 25,000
Cost of goods sold 20,000
Depreciation -
Employee benefits -
Furniture and equipment 500
Insurance 500
Interest expense -
Maintenance and repairs 5,000
Office supplies 200
Payroll taxes 2,000
Rent 9,000
Research and development 2,500
Salaries and wages 20,000
Software 5,000
Travel 5,000
Utilities 1,000
Web hosting and domains 500
Other 10,000
Total Expenses 122,336

Net Income Before Taxes 27,664

Income tax expense 9,920

Income from Continuing Operations 17,744

{42} [42]

Below-the-Line Items
Income from discontinued operations
Effect of accounting changes
Extraordinary items

Net Income 17,744