BASIC INCOME STATEMENT.

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1. COMPLETE A BASIC INCOME STATEMENT.

Create a small income statement with the information below.

Wages R23,000

Commissions Earned R51,000

interest income R2,500

Utilities R1,500

Equipment Rental R300

Fee Income R750

Insurances R3,000

Taxes R4,250

Depreciation R1,000

Dividends R2,500

Income Statement

Sample Solution

Category Amount (R)
Revenues
Wages 23,000
Commissions Earned 51,000
Interest Income 2,500
Fee Income 750
Dividends 2,500
Total Revenue 79,750
Expenses
Utilities 1,500
Equipment Rental 300
Insurances 3,000
Taxes 4,250
Depreciation 1,000
Total Expenses 10,050
Net Income 69,700

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