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WATERMAN STREET INCOME STATEMENT ACTUAL PROJECTED SEPTEMBER 2015 ANNUALIZED ** YR 1 1 JAN 2016 31 DEC 2016 ** YR 2 1 JAN 2016 31 DEC 2016 TOTAL RENTAL INCOME R 548 064 R 630 388 R 693 427 Rental Income
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01
Start by gathering all necessary financial information, including revenue, expenses, and any other relevant data.
02
Organize the information according to the appropriate categories in the income statement, such as revenue, cost of goods sold, operating expenses, and net income.
03
Calculate the revenue by summing up all the income generated from sales or services provided.
04
Determine the cost of goods sold by subtracting the direct costs associated with producing goods or providing services from the revenue.
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Calculate the gross profit by subtracting the cost of goods sold from the revenue.
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Identify and list all operating expenses, such as rent, utilities, salaries, and marketing expenses.
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Deduct the operating expenses from the gross profit to calculate the operating income.
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Review and include any other income or expenses that are not directly related to regular business operations, such as interest income or non-operating expenses.
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Calculate the net income by subtracting non-operating expenses from the operating income.
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Double-check all calculations and ensure that the income statement is balanced, with total revenues matching total expenses.
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Small business owners who want to assess their company's financial performance and profitability.
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Tax authorities who need to verify the accuracy of the reported income and expenses for taxation purposes.
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What is waterkant street income statement?
Waterkant Street income statement is a financial document that shows the revenue, expenses, and overall profitability of Waterkant Street.
Who is required to file Waterkant Street income statement?
Businesses operating on Waterkant Street are required to file an income statement.
How to fill out Waterkant Street income statement?
To fill out the income statement, businesses need to list their revenue, expenses, and calculate their net income.
What is the purpose of Waterkant Street income statement?
The purpose of the income statement is to show the financial performance of a business on Waterkant Street.
What information must be reported on Waterkant Street income statement?
Revenue, expenses, and net income must be reported on the income statement.
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