Income Statement
Explanation
The Income Statement subtracts all the costs incurred to operate your enterprise from the amounts received from selling goods and services. The result is a net income or a net loss for the year.
Factors to consider:
Sales projections
Cost of goods sold
Variable expenses (payroll, legal, marketing, etc.)
Fixed expenses (facilities, interest, depreciation, etc.)
Taxes
Include a spreadsheet with revenue and expenses for each month of the first year.
Include a spreadsheet with revenue and expenses for each quarter of the second year.
Include a spreadsheet with revenue and expenses annually for each year of the plan.
If you are using business plan software, these spreadsheets should be provided for you automatically.
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