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NH Department of Health and Human Services (HHS) Bureau of Family Assistance (BFA)BFA Form 735 Rev. 09/23Profit and Loss Statement for Reemployment You may use this form to verify your self employment
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How to fill out profit and loss statement
How to fill out profit and loss statement
01
Gather all financial information such as revenue, expenses, and cost of goods sold.
02
List all sources of revenue in the revenue section of the statement.
03
List all expenses in the expense section of the statement.
04
Calculate the gross profit by subtracting cost of goods sold from revenue.
05
Calculate the operating profit by subtracting operating expenses from gross profit.
06
Include any other income or expenses outside of regular operations in the statement.
07
Calculate the net profit by subtracting total expenses from total revenue.
Who needs profit and loss statement?
01
Business owners and managers to assess the financial health of the business.
02
Investors to evaluate the profitability and performance of a company.
03
Lenders to determine creditworthiness of a business.
04
Tax authorities to verify income and expenses for tax purposes.
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What is profit and loss statement?
Profit and loss statement is a financial document that outlines the revenue, expenses, and profits or losses of a business over a specific period of time.
Who is required to file profit and loss statement?
All businesses, including sole proprietorships, partnerships, corporations, and LLCs, are required to file profit and loss statements.
How to fill out profit and loss statement?
To fill out a profit and loss statement, you need to list all the revenue generated by the business and subtract all expenses incurred during the same period.
What is the purpose of profit and loss statement?
The purpose of a profit and loss statement is to show the financial performance of a business and determine if it is making a profit or incurring losses.
What information must be reported on profit and loss statement?
Information such as revenue from sales, cost of goods sold, operating expenses, interest expenses, and taxes must be reported on a profit and loss statement.
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