Statement of Business Activities: Income, Expenses, and Net

Statement of Business Activities Client: For the period: Address: CodeDescriptionAmount INCOME 10Sales, commissions, or fees500,000.00 11 12 Reserves deducted last year 500,000.00 COST OF GOODS SOLD Opening inventory15,000.00 20Purchases200,000.00 21Subcontracts 22Direct wage costs100,000.00 23Other direct costs- Less: Closing inventory(20,000.00) 295,000.00 GROSS PROFIT205,000.00 EXPENSES 24Advertising 25Meals and entertainment 50%9,500.004750 26Bad debts 27Insurance 28Interest4,500.00 29Business tax, fees, licences, dues, memberships, and subscriptions 30Office expenses 31Supplies12,500.00 32Legal, accounting and other professional fees6,000.00 33Management and administration fees 34Rent 35Maintenance and repairs 36Salaries, wages, and benefits (including employers contributions) 37Property taxes 38Travel 39Telephone and utilities5,000.00 40Fuel costs (except for motor vehicles) 41Delivery, freight, and express 45Equipment Lease5,800.00 46 47 Business use of auto5,437.50 Business use of home3,315.00 47,302.50 Net Income before CCA157,697.50 Asset additions 101Class 1 additions 106Class 6 additions 108Class 8 additions 110Class 10 additions