Income statement

Title

Statement of profit or loss (business) for the year ended (year)

*Important*

When it is a non-profit entity (charity business) its profit and not surplus

Structure

• sales revenue

• Cost of sales

• Gross surplus (or profit) *minus the above info

• Expenses

• Surplus (or profit) before interest *minus*

• Interest

• Surplus (or profit) before tax *minus*

• Tax

• Surplus (or profit) for period *minus*

• Retained surplus (or profit)

Examples of non profit entities

• charitable organizations

• Private foundations

• Greenpeace

• Human rights campaign