Income Statement example Maple Syrup Company
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| THE MAPLE SYRUP COMPANY FORECASTED INCOME STATEMENT FOR YEARS ENDING... |
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| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
| REVENUE: | |||||
| Sales of Bulk - Grade "A" | $1,406 | 3,984 | 8,203 | 16,406 | 18,750 |
| Sales of Bulk - Grade "B" | 1,055 | 2,988 | 6,152 | 12,305 | 14,063 |
| Sales of Retail - Grade "A" | 2,813 | 7,969 | 16,406 | 32,813 | 37,500 |
| Sales of Retail - Grade "B" | 2,109 | 5,977 | 12,305 | 24,609 | 28,125 |
| TOTAL REVENUE | 7,383 | 20,918 | 43,066 | 86,133 | 98,438 |
| OPERATING EXPENSES: | |||||
| Advertising Expense | 375 | 1,063 | 2,188 | 4,375 | 5,000 |
| Bank & Service Charges | 120 | 120 | 120 | 120 | 120 |
| Clean-up & Supplies | 300 | 750 | 1,500 | 3,000 | 3,000 |
| Containers & Labels | 1,125 | 3,188 | 6,563 | 13,125 | 15,000 |
| Depreciation Expense | 2,360 | 3,875 | 6,985 | 10,910 | 10,910 |
| Fuel | 281 | 797 | 1,641 | 3,281 | 3,750 |
| Insurance | 300 | 450 | 600 | 1,000 | 1,000 |
| Land Rentals | 0 | 0 | 1,000 | 6,000 | 6,000 |
| Membership Fees | 0 | 400 | 400 | 400 | 400 |
| Professional Fees | 1,000 | 500 | 500 | 500 | 500 |
| Property Taxes | 0 | 0 | 0 | 0 | 0 |
| Repairs & Maintenance | 300 | 750 | 1,500 | 3,000 | 3,000 |
| Salaries, Wages, & Benefits | 0 | 0 | 5,000 | 10,000 | 10,000 |
| Small Tools Expense | 400 | 400 | 400 | 400 | 400 |
| Telephone Expense | 100 | 150 | 180 | 220 | 300 |
| Training & Trade Shows | 5,000 | 500 | 500 | 500 | 500 |
| Utilities | 100 | 250 | 500 | 1,000 | 1,000 |
| Interest on Debt | 2,482 | 3,909 | 7,842 | 11,976 | 12,160 |
| Overdraft Interest | 202 | 604 | 820 | 1,141 | 553 |
| TOTAL EXPENSES | 14,445 | 17,705 | 38,238 | 70,949 | 73,593 |
| NET INCOME (LOSS) | (7,062) | 3,212 | 4,828 | 15,184 | 24,845 |