Create a simple Profit and Loss Statement for the first two years of your dream company following the income statement format. This is to be created from scratch for the first two years of your own company. Explain how you calculated revenue for year one.

The official term Income Statement is also known informally as Profit and Loss Statement. 

The purpose of this assignment is to gain the necessary knowledge to manage cost and determine project viability through capital budgeting techniques, so they can effectively minimize the cumulative error between the projected values and actual values over the relevant time horizon.