EZ Accounting

EXAMPLE 3

   "XYZ Company, Inc."
Income Statement And Changes
In Retained Earnings For
The Year Ended December 31, 20xx

Gross Receipts		$650,000
General And Administrative		$495,000
Other Income (Expense)
Interest Income	$5,000
Interest Expense	($75,000)	($70,000)
Net Income Before Provision For Income Taxes		$85,000
Less: Provision For Income Taxes		$25,500
Net Income		$59,500
Retained Earnings At The Beginning Of The Year		$122,450
Net Income		$59,500
Dividends Paid		($10,000)
Retained Earnings At The End Of The Year		$171,950

For Demonstration Purposes Only

by: Timothy C. Stewart, CPA
A Professional Corporation
874 Gravenstein Hwy. South, Suite 1
Sebastopol, Ca. 95472