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- Click ‘Get Form’ to open the profit and loss statement in the editor.
- Begin by entering your Company Name and Percent of Ownership at the top of the form. This identifies your business structure.
- Fill in your Borrower(s) Name and Loan Number, along with the Start Date and End Date for the reporting period, ensuring it covers a minimum of three months.
- In the GROSS INCOME section, input your Gross Sales, which is the total income from services before expenses. Add any Other Income you may have, such as leasing space to other stylists.
- Calculate Total GROSS INCOME by summing Gross Sales and Other Income.
- For NET INCOME, enter your Net Income Before Taxes and Personal Income Taxes. Then calculate Total NET INCOME by subtracting taxes from net income before taxes.
- In the EXPENSES section, list all relevant costs including Cost of Goods Sold, Payroll Expenses for yourself and employees, Advertising, Rent, Utilities, etc. Be thorough to ensure accurate financial representation.
- Finally, review all entries for accuracy. Sign and date the document to certify that all information is truthful before submitting.
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