Format of Income Statement

ABC Company Income Statement 1/1/2008 Sales(Revenue) ————————– $4000 Cost of good sold ———————– $2500 ———————————————— Gross Profit————————————-$1500 Marketing expense———————$200 Administrative expense—————-$300 —————————————— Total expense——————————500 ———————————————— EBIT———————————————$1000 Interest———————————-$500 ———————————————– EBT———————————————-$500 Taxes————————————$250 —————————————————– Net Inome—————————————-$250