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Financial statement building calculator

This calculator is designed to 'walk you through' a step by step process of creating the profit and loss statement, also known as the income statement, and then through the balance sheet.

This calculator will show you how the information is put into each document as well as how information transfers from the income statement to the balance sheet.

In order for you to use this calculator, you must have JavaScript enabled in your browser. Starting with the "Step 1" button on the right, a popup balloon will appear describing that section of the spreadsheet when you position your mouse pointer over the button. After each click of a "Step" button, the next step button will appear. Continue to position your mouse pointer over each button to display the popup balloon describing that step.
















Financial statement building calculator from Profits Plus
 ABCDEFGHI
1
Income Statement
 
%
 
%
 
%
 
%
2 Cash Sales $87,100.00 64.60 $79,250.00 63.00 $579,430.00 65.20 $565,200.00 64.80
3 Bankcard Sales $26,800.00 19.90 $25,400.00 20.20 $168,300.00 19.00 $163,600.00 18.80
4 In house Sales $20,900.00 15.50 $21,200.00 16.80 $140,300.00 15.80 $142,900.00 16.40
5 Total Sales $134,800.00 100.00 $125,850.00 100.00 $888,030.00 100.00 $861,700.00 100.00
6  
7 Cost of Goods Sold $80,565.00 59.80 $75,945.00 60.30 $517,675.00 58.30 $508,765.00 58.40
8 Gross Profit $54,235.00 40.20 $49,905.00 39.70 $370,355.00 41.70 $362,935.00 41.60
9  
10 Operating Expenses:  
11 Wages-General $14,835.00 11.00 $14,975.00 11.90 $103,845.00 11.70 $102,900.00 11.80
12 Wages-Management $6,800.00 5.00 $6,400.00 5.10 $47,600.00 5.40 $44,800.00 5.10
13 Payroll Taxes $1,730.80 1.30 $1,710.00 1.40 $12,115.60 1.40 $11,816.00 1.40
14 Insurance-Workmen's Compensation $1,081.75 0.80 $1,68.75 0.80 $7,572.25 0.90 $7,385.00 0.80
15 Staff Education $1,600.00 1.20 $1,450.00 1.20 $11,750.00 1.30 $11,200.00 1.30
16 Property Taxes $1,100.00 0.80 $1,050.00 0.80 $7,700.00 0.90 $7,350.00 0.80
17 Rent $6,750.00 5.00 $6,750.00 5.40 $47,250.00 5.30 $47,250.00 5.40
18 Depreciation $1,000.00 0.70 $1,000.00 0.80 $7,000.00 0.80 $7,000.00 0.80
19 Common Area Maintenance $1,000.00 0.70 $950.00 0.80 $7,000.00 0.80 $6,650.00 0.80
20 Telephone $1,425.00 1.10 $1,575.00 1.30 $9,750.00 1.10 $10,125.00 1.20
21 Electric $985.00 0.70 $90.00 0.70 $7,120.00 0.80 $6,850.00 0.80
22 Gas $250.00 0.20 $225.00 0.20 $1,525.00 0.20 $1,510.00 0.20
23 Water/Sanitation $375.00 0.30 $340.00 0.30 $2,510.00 0.30 $2,430.00 0.30
24 Repairs $525.00 0.40 $640.00 0.50 $3,400.00 0.40 $3,700.00 0.40
25 Advertising $3,704.00 2.70 $3,140.00 2.50 $29,650.00 2.30 $21,440.00 2.50
26 Accounting & Legal $370.00 0.30 $395.00 0.30 $2,510.00 0.30 $2,800.00 0.30
27 Automobile $470.00 0.30 $375.00 0.30 $3,290.00 0.40 $2,600.00 0.30
28 Bank Charges $340.00 0.30 $310.00 0.20 $2,150.00 0.20 $2,015.00 0.20
29 Computer Operations $175.00 0.10 $165.00 0.10 $1,225.00 0.10 $1,155.00 0.10
30 Dues & Subscriptions $285.00 0.20 $270.00 0.20 $1,825.00 0.20 $1,750.00 0.20
31 Insurance-General $800.00 0.60 $745.00 0.60 $5,600.00 0.60 $5,215.00 0.60
32 Licenses & Taxes (not sales tax) $100.00 0.10 $120.00 0.10 $800.00 0.10 $850.00 0.10
33 Office & Store Supplies $300.00 0.20 $260.00 0.20 $2,460.00 0.30 $1,985.00 0.20
34 Outside Services $250.00 0.20 $325.00 0.30 $1,680.00 0.20 $2,360.00 0.30
35 Travel $945.00 0.70 $1,210.00 1.00 $8,450.00 1.00 $7,290.00 0.80
36  
37 Total Operating Expenses $47,196.55 35.00 $46,388.75 36.90 $326,777.85 36.80 $320,426.00 36.80
38  
39 Operating Income $7,038.45 5.22 $3,516.25 2.79 $43,577.15 4.91 $42,509.00 4.88
40  
41 Other Income and Expenses:  
42 Miscellaneous Income $400.00 0.30 $450.00 0.36 $2,800.00 0.32 $3,100.00 0.36
43 Interest Income $265.00 0.20 $200.00 0.16 $2,050.00 0.23 $1,950.00 0.22
44 Interest Expense $700.00 0.52 $750.00 0.60 $4,900.00 0.55 $5,250.00 0.60
45  
46 Net Income Before Taxes $7,003.45 5.20 $3,416.25 2.71 $43,527.15 4.90 $42,309.00 4.85
47  
48 Federal Income Tax $0.00 0.00 $9.00 0.00 $6,529.07 0.74 $6,346.35 0.73
49  
50 Net Income (loss) $7,003.45 5.20 $3,416.25 2.71 $36,998.08 4.17 $35,962.65 4.13
51                  
52                  
53                  
54 Balance Sheet                
55                
56 Assets:                
57 Cash on hand $2,500.00   $2,500.00          
58 Cash $17,450.00   $16,980.00          
59 Savings Account $28,386.00   $29,960.00          
60 Accounts Receivable $22,590.00   $21,675.00          
61 Bank Card Receivables $3,050.00   $3,370.00          
62 Inventory $150,650.00   $139,750.00          
63 Total current assets $224,626.00   $214,235.00          
64                  
65 Investments:                
66 Cooperative Stock $24,500.00   $21,575.00          
67 Cooperative Notes $45,200.00   $41,800.00          
68 Total Investments $69,700.00   $63,375.00          
69                  
70 Long term assets:                
71 Fixtures & equipment $120,000.00   $120,000.00          
72                  
73 Total property, fixtures & equipment: $120,000.00   $120,000.00          
74                  
75 Accumulated depreciation $42,000.00   $30,000.00          
76 Total net long term assets $78,000.00   $90,000.00          
77                  
78 Other Assets:                
79 Utility deposits $1,500.00   $1,500.00          
80 Total assets: $373,826.00   $369,110.00          
81                  
82 Liabilities & net worth:                
83                  
84 Current liabilities:                
85 Accounts payable $64,200.00   $65,700.00          
86 Building mortgage - current $0.00   $0.00          
87 Note payable - current $6,750.00   $6,750.00          
88 Total current liabilities: $70,950.00   $72,450.00          
89                  
90 Long term liabilities:                
91 Building mortgage $0.00   $0.00          
92 Note payable $94,500.00   $101,250.00          
93 Current long term liabilities: $94,500.00   $101,250.00          
94 Total liabilities: $165,450.00   $173,700.00          
95                  
96 Stockholder's Equity                
97 Contributed capital $155,000.00   $125,000.00          
98 Current income $36,998.08   $55,962.65          
99 Retained earnings (beginning) $46,377.92   $34,447.35          
100 Total stockholder's equity: $208,376.00   $195,410.00          
101 Total stockholder's equity and liabilities: $373,826.00   $369,110.00          
102                  
103                  
104                  
105                  
106 Ret. Earn. (beg of yr) $46,377.92   $34,447.35          
107 Current income (1/1 - 7/31) $36,998.08   $35,962.65          
108 Current income (8/1 - 12/31) $0.00   $35,967.92          
109 Distributions $0.00   $-60,000.00          
110 Ret. Earn. (end of yr) $83,376.00   $46,377.92          
111                  
112                  
113                  
   

MARCH 2024
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Small Business

Conversations

We are taking a break with the Small Business Conversations programs. However, we have the many years of the program cataloged by date on the website.

Small Business

AdvisorieS

The March Small Business Advisory remembers a line from many a western movie; "They went that a-way" and expressions similar to that distract from a business giving great customer service.

Small Business

News

Top Story

The big news item on November 30, 2022 was the advent of ChatGPT; Artificial Intelligence applications which many believe are used exclusively by big businesses.

This does not have to be true as there are many applications we share that have usage in a small business.


Article of the Month

"No plan B"; the subtitle to Van Morrison's Born to Sing album. The idea of no plan B also applies to a small business when you think (or is it when you don't think) about when the time, or opportunity, comes that you can sell your business. Generally speaking, a small business owner gets less money when they decide to close their business.


Book of the Month

"Escape from Cubicle Nation" is the March book of the month. While directed towards those working a corporate job and wanting to become an entrepreneur, we remind readers about utilizing their gut feeling to make decisions in their business.

After all, you did use your gut feeling when you decided to open or purchase your business.

BOOK US

With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.

Small Business

Conversations

We are taking a break with the Small Business Conversations programs. However, we have the many years of the program cataloged by date on the website.

Small Business

Advisories

The March Small Business Advisory remembers a line from many a western movie; "They went that a-way" and expressions similar to that distract from a business giving great customer service.

Small Business

News

 

Top Story

The big news item on November 30, 2022 was the advent of ChatGPT; Artificial Intelligence applications which many believe are used exclusively by big businesses.

This does not have to be true as there are many applications we share that have usage in a small business.


Article of the Month

"No plan B"; the subtitle to Van Morrison's Born to Sing album. The idea of no plan B also applies to a small business when you think (or is it when you don't think) about when the time, or opportunity, comes that you can sell your business. Generally speaking, a small business owner gets less money when they decide to close their business.


Book of the Month

"Escape from Cubicle Nation" is the March book of the month. While directed towards those working a corporate job and wanting to become an entrepreneur, we remind readers about utilizing their gut feeling to make decisions in their business.

After all, you did use your gut feeling when you decided to open or purchase your business.