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An income statement, also known as a profit and loss statement, is a financial statement that summarizes a company's revenues and expenses during a specified period of time. This template allows a restaurant to record its current operating performance and compare it to projected performance levels for a future period of time. Companies should analyze market and economic trends in order to most accurately predict future profitability levels. This document is similar to the Income Statement Pro Forma, but this statement only projects one future period as opposed to five future years. An income statement allows managers to see a company's net income (the bottom line) once costs, expenses, and taxes have been taken out of revenues (top line).
[RESTAURANT NAME] Income Statement Forecast [FORECAST DATE] Current [Start Date] to [End Date] REVENUES Bar Sales $ - Catering Sales $ - Food Sales $ - Interest Income $ - Other Revenue $ - TOTAL REVENUES $ - COSTS Bar Purchases $ - Food Purchases $ - Merchant Account Fees $ - Restaurant Supplies $ - Labor Costs $ - Other Costs $ - TOTAL COSTS $ - GROSS PROFIT (LOSS) $ - GENERAL & ADMINISTRATIVE EXPENSES Advertising and Promotion $ - Automobile Expense $ - Bank Service Charges $ - Business Licenses and Permits $ - Charitable Contributions $ - Computer and Internet Expenses $ - Continuing Education $ - Depreciation Expense $ - Dues and Subscriptions $ - Insurance Expense $ - Interest Expense $ - Meals and Entertainment $ - Miscellaneous Expense $ - Office Supplies $ - Payroll Expenses $ - Postage and Delivery $ - Printing and Reproduction $ - Professional Services - Legal, Accounting $ - Rent Expense $ - Subcontractor $ - Telephone Expense $ - Travel Expense $ - Utilities $ - Website Development $ - Other Expenses $ - TOTAL G&A EXPENSES $ - NET INCOME (LOSS) $ - AURANT NAME] tatement Forecast RECAST DATE] Forecast [Start Date] to [End Date] TIP: SHEET 2 BELOW HAS A FILLED OUT EXAMPLE $ - $ - TIP: HOVER OVER EACH CELL FOR MORE INSTRUCTIONS $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 1) An Income Statement, also called a Profit-Loss Statement, is an important basic financial template th determine how much revenues, costs, gross profit, general and administrative expenses, and net income any specific period of time. 2) It is important to have a written income statement to help a company track its profits and losses at time. Also, it can help a company obtain investing or loans. 3) The example provided is based on a fictional restaurant named "Lucy's Steakhouse" and summarizes and forecasts financials for the next year. 4) Lucy's Steakhouse operated at a gross profit of over $70,000 during this year and forecasts they will of under $115,000 next year. Once the general and administrative expenses are deducted, Lucy's Steakh income of over $5,000 and forecasts they will have a net profit of over $15,000 next year. Lucy's Steakhouse Income Statement Forecast 25-Apr-14 Current 04/25/2013 to 04/25/2014 REVENUES Bar Sales $ 55,000.00 Catering Sales $ 25,000.00 Food Sales $ 152,000.00 Interest Income $ 2,000.00 Other Revenue $ 255.00 TOTAL REVENUES $ 234,255.00 COSTS Bar Purchases $ 18,500.00 Food Purchases $ 65,000.00 Merchant Account Fees $ 1,400.00 Restaurant Supplies $ 8,400.00 Labor Costs $ 68,000.00 Other Costs $ 2,000.00 TOTAL COSTS $ 163,300.00 GROSS PROFIT (LOSS) $ 70,955.00 GENERAL & ADMINISTRATIVE EXPENSES Advertising and Promotion $ 10,000.00 Automobile Expense $ 2,000.00 Bank Service Charges $ 1,200.00 Business Licenses and Permits $ 1,000.00 Charitable Contributions $ 2,500.00 Computer and Internet Expenses $ 2,100.00 Continuing Education $ 1,500.00 Depreciation Expense $ 500.00 Dues and Subscriptions $ 750.00 Insurance Expense $ 5,500.00 Interest Expense $ 2,000.00 Meals and Entertainment $ 2,000.00 Miscellaneous Expense $ 1,500.00 Office Supplies $ 2,000.00 Payroll Expenses $ 1,200.00 Postage and Delivery $ 400.00 Printing and Reproduction $ 500.00 Professional Services - Legal, Accounting $ 2,000.00 Rent Expense $ 20,000.00 Subcontractor $ 500.00 Telephone Expense $ 2,000.00 Travel Expense $ 850.00 Utilities $ 2,000.00 Website Development $ 1,200.00 Other Expenses $ 250.00 TOTAL G&A EXPENSES $ 65,450.00 NET INCOME (LOSS) $ 5,505.00 is an important basic financial template that helps a company nd administrative expenses, and net income a company has for p a company track its profits and losses at any given point in amed "Lucy's Steakhouse" and summarizes the current year 00 during this year and forecasts they will have a gross profit ative expenses are deducted, Lucy's Steakhouse had a net ofit of over $15,000 next year. 's Steakhouse tatement Forecast 25-Apr-14 Forecast 04/25/2014 to 04/25/2016 $ 65,000.00 $ 40,000.00 $ 220,000.00 $ 2,400.00 $ 450.00 $ 327,850.00 $ 22,000.00 $ 90,000.00 $ 1,200.00 $ 11,000.00 $ 88,000.00 $ 1,500.00 $ 213,700.00 $ 114,150.00 $ 15,000.00 $ 3,200.00 $ 1,450.00 $ 1,250.00 $ 4,200.00 $ 3,300.00 $ 2,500.00 $ 950.00 $ 850.00 $ 8,750.00 $ 3,500.00 $ 3,100.00 $ 2,250.00 $ 3,250.00 $ 2,450.00 $ 650.00 $ 850.00 $ 3,250.00 $ 25,000.00 $ 2,000.00 $ 3,500.00 $ 2,150.00 $ 2,750.00 $ 1,750.00 $ 800.00 $ 98,700.00 $ 15,450.00
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