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Income statement sole trader (Less: other expenses (Depreciation of non…
Income statement sole trader
Sales net of returns
Opening inventory
Purchases
Carriage inwards
Custom duty
Less: Closing inventory
Cost of goods sold (amount)
Gross profit
Discount received
Profit of sale of non current asset
Less: other expenses
Depreciation of non-current assets
Irrecoverable receivable
Electricity & gas
Rent
Insurance
Discount allowed
Carriage outwards
Sales commission paid
Salaries and wages
Bank charges
Loan interest
Sundry expenses
Postage
Advertising
Motor expanses
Total of expanses (amount)
Net profit for period
Plus workings
On prepayments
and accruals