If you want a professional-looking, single-step income statement for your sole proprietorship, then this form makes it easy. Our form also includes the calculation of the cost of goods sold so that you account for the change in inventories during the period being reported.
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For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.
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