Income statement is one of a company’s core financial statements that shows their profit and loss over a period of time. The profit or loss reflected on an income statement is determined by taking all revenues and subtracting all expenses from both operating and non-operating activities.

This is a detailed Excel model that will help you to construct a thorough income statement for your business. This income statement template includes four worksheets, allowing you to summarize revenue and expense items in different time periods. These worksheets are:

• Income Statement (Monthly)
• Income Statement (Annual)
• Income Statement (Monthly - Blank)
• Income Statement (Annual - Blank)

  As such, you can see how the model works before making your own monthly and yearly income statements.   Screenshot from the model   Using this model will give you the opportunity to calculate the following outputs:

• Total Net Revenue
• Gross Profit
• Total Expenses
• Earnings Before Interest and Taxes
• Earnings Before Taxes
• Net Earnings

  Use this income statement template to construct a detailed financial analysis of your business' performance on either a monthly or annual basis. The monthly statements display the financials for each month within a year, while the annual statements cover a period of up to 5 years, allowing you to create an extensive financial overview and track your progress.