Income Statement 2026

1. Click ‘Get Form’ to open the Income Statement in our editor.
2. Begin by entering the name of your company at the top of the form. This personalizes your document and ensures clarity.
3. In the Revenue section, input your Gross Sales amount. Then, subtract any Sales Returns & Allowances to calculate Net Sales.
4. Next, move to Cost of Goods Sold. Fill in Beginning Inventory, Purchases, Freight-in, Direct Labor, and Indirect Expenses. Finally, deduct Ending Inventory to find the total Cost of Goods Sold.
5. Calculate Gross Profit (Loss) by subtracting Cost of Goods Sold from Net Sales.
6. In the Expenses section, list all relevant expenses such as Advertising, Rent, and Utilities. Sum these amounts for Total Expenses.
7. Determine Net Operating Income by subtracting Total Expenses from Gross Profit (Loss).
8. Finally, include any Other Income like Gain on Sale of Assets and Interest Income to calculate your Net Income (Loss).

Start using our platform today for free to streamline your Income Statement process!