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hello welcome to this video demonstrating how to reformat an income statement in this excel sheet here ive got the income statement for australian vintage limited ive entered in all the data into the income statement here directly from the financial reports for australian vintage so as you can see on the australian vintage statement of profit and loss here in 2020 theyve recorded a net profit for the year of 10 953 and for 2020 ive got a net profit of 10 953 they also then record a little bit of comprehensive income to receive in total a comprehensive income for the year of 13 252 which weve got in the spreadsheet so once ive got my income statement entered into the excel spreadsheet i can then start the process of reformatting the income statement so income the income statement reformatting process is a little bit more tricky than the balance sheet its not hard theres just one extra step where sometimes we might make a mistake so lets go through reformatting the income state