My husband is self employed. We're in the process of purchasing a home and they want a year to date profit and lost statement. I need to know exactly how to write this up. Please help!!! We need this done by tomorrow.|||Basic acceptable format follows. Invest in quickbooks for the small business - worth the money - and could print you out a P%26amp;L in 10 seconds. Change the expense categories or cost of good sold (if he has none just remove it completely) as it applies to his business - the example below is generic so just follow that format. Center heading, use columns and align all the dollar amounts properly - can't do that here sorry. Standard is to double underline net income at the end. Try searching web also - you might be able to find a free template to use - maybe microsoft office on the web would have free templates if you use office.
ABC Company
Profit and Loss Statment
4/7/09
Gross Receipts $ 200,000
Cost of Goods Sold $ 40,000
Gross Profit $160,000
Expenses:
Advertising 5,000
Bank fees 200
Payroll 25,000
Insurance 1,000
Legal fees 1,000
Licenses %26amp; Permits 500
Office Supplies 800
Rent 10,000
Taxes 2,000
Utilities 4,500
--------------
TOTAL EXPENSES (50,000)
NET INCOME 110,000
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