Profit & Loss Report

Profit & Loss Report

A profit and loss statement (P&L) is a financial statement that summarizes the revenues, costs and expenses incurred during a specific period of time, usually a month, fiscal quarter or year. These records provide information about a company's or property's ability – or lack thereof – to generate profit by increasing revenue, reducing costs, or both. The P&L statement is also referred to as "statement of profit and loss", "income statement," "statement of operations," "statement of financial results," "operating statement," and "income and expense statement."


Example profit and loss statement

Total revenue $ 1,000,000 100%
Less Cost of Goods Sold $      426,200 42.6%
Gross Profit $ 573,800 57.4%
Less Expenses
Accounting and legal fees $ 11,700
Advertising $ 15,000
Depreciation $ 38,000
Electricity $ 2,700
Insurance $ 15,200
Interest and bank charges $ 27,300
Postage $ 1,500
Printing and stationery $ 8,700
Professional memberships $ 1,800
Rent for premises $ 74,300
Repairs and maintenance $ 21,100
Training $ 6,900
Vehicle operating costs $ 20,000
Wages and salaries $ 223,500
Workers compensation $ 6,500
All other expenses $          14,100
Less Total Expenses $        488,300 48.8%
Equals Net Profit (BOS) $ 85,500 8.6%