This is a Business question but Maths is close enough.
7. Create an estimated one-year income statement for one year from now, in the format
below. Use your best predictions, but it won't be exactly accurate, since it's hard to
predict a year into the future. Keep the unit headings (revenue, cost of goods sold, and
so on), but replace the specific information with your company's information. (7.5 points)
TIP: Review the Lesson 3 information about income statements first.
Revenue
List all types of revenue here (such as Internet sales, flea market sales, and so on) and
the dollar amounts you expect to earn from them over the next year.
At the end of the list, calculate the total by adding them.
Cost of goods or services sold
List the costs of goods or services sold here (see Assessment 2 for more information on
this). Make sure to estimate them for the next year.
At the end of the list, calculate the total by adding them.
Gross profit
Subtract the cost of goods sold from the total revenue to calculate the gross profit here.
Other expenses
List other expenses here. Make sure to estimate their costs for the next year.
At the end of the list, calculate the total by adding them.
Net profit
Subtract the total of other expenses from the gross profit to calculate the net profit here.
