a financial statement for your new business venture. Using the Excel template provided, and based on surveying a specific marketplace, make a best guess estimated statement exhibiting profit and loss. There are 38 blanks to fill in. Our Rubric has two criteria (accuracy and correctness): You will earn one point for filling in each entry and one point for your data being accurate. In business, accuracy counts, so please include a word document that describes how you arrived at the numbers used in your income statement. Make sure you check and recheck your numbers before submitting your financial statements. Business is a Clothing Boutique and most be in Minnesota

[Your Company Name] Income Statement Bottom Border For the Year Ended [Month/Date/Year] Revenue: Gross Sales $0.00 Less: Sales Returns and Allowances $0.00 Net Sales $0.00 Cost of Goods Sold: Beginning Inventory $0.00 Add: Purchases $0.00 Direct Labor $0.00 Indirect Expenses $0.00 $0.00 Less: Ending Inventory $0.00 Cost of Goods Sold $0.00 Gross Profit (Loss) $0.00 Expenses: Advertising $0.00 Bank Charges $0.00 Commissions $0.00 Contract Labor $0.00 Credit Card Fees $0.00 Delivery Expenses $0.00 Dues and Subscriptions $0.00 Insurance $0.00 Interest $0.00 Maintenance $0.00 Miscellaneous $0.00 Office Expenses $0.00 Payroll $0.00 Permits and Licenses $0.00 Postage $0.00 Professional Fees $0.00 Property Taxes $0.00 Rent $0.00 Telephone $0.00 Travel $0.00 Utilities $0.00 Total Expenses $0.00 Net Operating Income $0.00 Other Income: Gain (Loss) on Sale of Assets $0.00 Interest Income $0.00 Total Other Income $0.00 Net Income (Loss) $0.00