Forecasted Income Statement - Example of the Internet Co
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| THE INTERNET COMPANY FORECASTED INCOME STATEMENT FOR YEARS ENDING DECEMBER 31 ... |
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| Dec. 31, 200X | Dec. 31, 200Y | Dec. 31, 200Z | |
| REVENUE: | |||
| Sales from Sponsors | N/A | $138,000 | $175,000 |
| OPERATING EXPENSES: | |||
| Marketing & Promotions | $ 0 | $15,784 | $19,662 |
| Telephone Expense | $ 825 | $ 1,800 | $ 3,600 |
| Office Supplies Expense | $ 416 | $ 1,200 | $ 2,400 |
| Rent Expense | $1,926 | $ 5,500 | $12,000 |
| Bank Charges | $ 348 | $ 360 | $ 600 |
| Travel & Maintenance Expense | $2,079 | $ 960 | $ 1,920 |
| Insurance Expenses | $1,152 | $ 2,352 | $ 2,364 |
| Management Salary Expense | $3,040 | $15,600 | $20,800 |
| Internet Salaries Expense | $ 0 | $19,200 | $26,000 |
| Admin. Salaries Expense | $4,320 | $19,200 | $26,000 |
| Employer Costs (11%) | $ 0 | $ 3,828 | $ 5,148 |
| Conferencing | $ 294 | $ 2,000 | $ 3,500 |
| Incorporation | $ 0 | $ 800 | $ 0 |
| Internet Accounts | $ 306 | $ 306 | $ 659 |
| Leasing expense | $4,212 | $ 4,224 | $ 4,224 |
| Investors Interest Expense | $ 0 | $ 3,000 | $ 0 |
| Depreciation Expense | $1,000 | $ 4,713 | $ 4,713 |
| Bad Debt Expense (4%) | $ 0 | $ 5,520 | $ 7,000 |
| Entrepre'ship loan Interest (6%) | $ 0 | $ 821 | $ 664 |
| Professional Fees | $ 0 | $ 1,200 | $ 1,500 |
| TOTAL OPERATING EXPENSES | $19,918 | $108,367 | $142,754 |
| NET INCOME (before tax) | $(19,918) | $29,633 | $32,246 |
| Taxes (25%) | $ 0 | $ 7,408 | $ 8,062 |
| NET INCOME (after tax) |
$(19,918) |
$22,225 |
$24,185 |
| * Numbers are rounded to the nearest dollar. | |||