Now that you have completed the income section of form 11205, you will include the deductions/expenses...

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Now that you have completed the income section of form 11205, you will include the deductions/expenses your company had for the year. Use the following profit and loss statement for your deduction figures. The deductions are called operating expenses on the Profit and Loss Statement. Complete lines 7-21 only. YOU WILL NOT NEED TO INCLUDE FORM 4562 for depreciation. [Company Name] 1 2 Address: 123 Street Avenue, Cityville, State, 12333 3 4 5 6 7 8 9 Date Created: 11 Jan, 2020 Profit and Loss Report Revenue 10 Sales 11 Less Sales Return 12 Les Discounts and Allowances 13 Net Sales 14 Cost of Goods Sold 15 Materials 16 Labor 17 Overhead 18 Total Cost of Goods Sold 19 Gross Profit 20 Operating Expenses 21 Wages 22 Advertising 23 Repairs & Maintenance 24 Travel Date Issued: 11 Jan, 2020 D E Profit and Loss Report Year 1 $78,000.00 $3,000.00 $1,000.00 $74,000.00 $8,000.00 $9,000.00 $2,000.00 Year 2 $70,000.00 $3,000.00 $1,000.00 $74,000.00 $74,000.00 $10,000.00 $500.00 $100.00 $50.00 $8.000.00 $8,000.00 $2,000.00 Year 3 $78,000.00 $8.000.00 $9,000.00 $2,000.00 $15,000.00 $13,000.00 $15,000.00 $55,000.00 $55,000.00 $55,000.00 $10,000.00 $500.00 $100.00 $50.00 $3,000.00 $1,000.00 $10,000.00 $500.00 $100.00 $50.00 Now that you have completed the income section of form 11205, you will include the deductions/expenses your company had for the year. Use the following profit and loss statement for your deduction figures. The deductions are called operating expenses on the Profit and Loss Statement. Complete lines 7-21 only. YOU WILL NOT NEED TO INCLUDE FORM 4562 for depreciation. [Company Name] 1 2 Address: 123 Street Avenue, Cityville, State, 12333 3 4 5 6 7 8 9 Date Created: 11 Jan, 2020 Profit and Loss Report Revenue 10 Sales 11 Less Sales Return 12 Les Discounts and Allowances 13 Net Sales 14 Cost of Goods Sold 15 Materials 16 Labor 17 Overhead 18 Total Cost of Goods Sold 19 Gross Profit 20 Operating Expenses 21 Wages 22 Advertising 23 Repairs & Maintenance 24 Travel Date Issued: 11 Jan, 2020 D E Profit and Loss Report Year 1 $78,000.00 $3,000.00 $1,000.00 $74,000.00 $8,000.00 $9,000.00 $2,000.00 Year 2 $70,000.00 $3,000.00 $1,000.00 $74,000.00 $74,000.00 $10,000.00 $500.00 $100.00 $50.00 $8.000.00 $8,000.00 $2,000.00 Year 3 $78,000.00 $8.000.00 $9,000.00 $2,000.00 $15,000.00 $13,000.00 $15,000.00 $55,000.00 $55,000.00 $55,000.00 $10,000.00 $500.00 $100.00 $50.00 $3,000.00 $1,000.00 $10,000.00 $500.00 $100.00 $50.00