Get the free Consolidated Statement of Income for the Three Months Ended March 31, 2016, and 2015

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549Form 10Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended

How to fill out consolidated statement of income

How to fill out consolidated statement of income

1. To fill out a consolidated statement of income, follow these steps:
2. Gather all the financial data for the subsidiary companies that are included in the consolidation.
3. Calculate the net sales revenue by adding up the sales revenue of all the subsidiary companies.
4. Determine the cost of goods sold by summing up the costs associated with producing or acquiring the goods sold by the subsidiary companies.
5. Calculate the gross profit by subtracting the cost of goods sold from the net sales revenue.
6. Compute operating expenses by combining all the expenses incurred by the subsidiary companies during the reporting period.
7. Subtract the operating expenses from the gross profit to calculate the operating income.
8. Include any non-operating income or expenses, such as interest income or expenses, investment gains or losses, etc.
9. Calculate the net income by adding the operating income and non-operating income, and subtracting any taxes or interest expenses.
10. Prepare the consolidated statement of income by listing the calculated figures for net sales revenue, cost of goods sold, gross profit, operating expenses, operating income, non-operating income/expenses, taxes, interest expenses, and net income.
11. Review and verify the accuracy of the consolidated statement of income before finalizing it.

Who needs consolidated statement of income?

1. A consolidated statement of income is primarily needed by:
2. Parent companies that own multiple subsidiary companies and want to present the overall financial performance of their business.
3. Business stakeholders, such as investors, shareholders, and lenders, who want to assess the financial health and profitability of the consolidated entity.
4. Regulatory authorities and government agencies that require consolidated financial statements for compliance and reporting purposes.
5. Analysts and financial professionals who analyze and compare the financial performance of different companies within a group.
6. Potential business partners or acquirers who want to evaluate the financial viability of a group of companies before making strategic decisions.

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What is consolidated statement of income?

A consolidated statement of income is a financial statement that presents the combined revenues, expenses, and profits of a parent company and its subsidiaries as a single entity, providing an overview of the financial performance of the entire corporate group.

Who is required to file consolidated statement of income?

Parent companies that have one or more subsidiaries are required to file a consolidated statement of income to reflect the financial performance of the entire group.

How to fill out consolidated statement of income?

To fill out a consolidated statement of income, aggregate the income and expenses from both the parent and its subsidiaries. Eliminate intercompany transactions and balances to ensure accurate reporting of the consolidated results.

What is the purpose of consolidated statement of income?

The purpose of a consolidated statement of income is to provide stakeholders, including investors and creditors, with a clear view of the overall profitability and performance of a corporate group, facilitating better decision-making.

What information must be reported on consolidated statement of income?

A consolidated statement of income must report total revenues, cost of goods sold, operating expenses, other income and expenses, taxes, and net income attributable to the parent company and non-controlling interests.