Income statement
For the year ended December 31, 20×2
Particulars | Amounts $ |
sales revenue | 2,105,000 |
Less: cost of goods sold | 1,770,000 |
Gross margin | 335,000 |
Selling and administrative expenses | 269,000 |
Income before taxes | 66,000 |
Income tax Expense | 25,000 |
Net income | 41,000 |