Question

I do ot understand what to put in the income statement

Answer 1

Please find the format for the income statement:

Revenue		2020	2019
	Sales revenue
	(Less sales returns and allowances)
	Service revenue
	Interest revenue
	Other revenue
Total Revenues		-	-
Expenses
	Advertising
	Bad debt
	Commissions
	Cost of goods sold
	Depreciation
	Employee benefits
	Furniture and equipment
	Insurance
	Interest expense
	Maintenance and repairs
	Office supplies
	Payroll taxes
	Rent
	Research and development
	Salaries and wages
	Software
	Travel
	Utilities
	Web hosting and domains
	Other
Total Expenses		-	-
	Net Income Before Taxes	-	-
	Income tax expense
Income from Continuing Operations		-	-
Below-the-Line Items
	Income from discontinued operations
	Effect of accounting changes
	Extraordinary items
Net Income		-	-