Example of Income Statement Finlay Interiors Income statement For Month Ended January 31, 2001 Inflows of assets in exchange for Revenues products and Consulting revenue S3,800 services Rental revenue 300 provided to Total revenues S4,100 customers Operating Expenses Rent expense 1,000 Salaries expense 700 Total operating expenses 1700 Net income S2,400 Task Team of fundamentalaccounting Business sehool. Sun lasen university 16
16 Revenues: Consulting revenue $ 3,800 Rental revenue 300 Total revenues $ 4,100 Operating Expenses: Rent expense $ 1,000 Salaries expense 700 Total operating expenses 1,700 Net income $ 2,400 Finlay Interiors Income Statement For Month Ended January 31, 2001 Inflows of assets in exchange for products and services provided to customers. Example of Income Statement
Example of Income Statement (cont) Finlay Interiors Income Statement For Month Ended January 31, 2001 Revenues Outflows or Consulting revenue s3,800 the using Rental revenue 300 up of assets Total revenues s4,100 that result Operating ex pe penses. from providing Rent expense S1,000 products Salaries expense 700 and services to Total operating expenses 1700 customers Net income S2,400 Task Team of FUndaMientalactoUntING Business Sehool. Sun Yatsen niversity 17
17 Example of Income Statement (cont) Outflows or the using up of assets that result from providing products and services to customers. Revenues: Consulting revenue $ 3,800 Rental revenue 300 Total revenues $ 4,100 Operating Expenses: Rent expense $ 1,000 Salaries expense 700 Total operating expenses 1,700 Net income $ 2,400 Finlay Interiors Income Statement For Month Ended January 31, 2001