Income |
|
Income |
|
Field Name |
Source Book Row # & Title |
Form 1120 Schedule, Line # & Title |
Description |
Net Sales |
35 Business receipts |
Main form, 1c Bal |
Gross receipts or sales less returns and allowances |
Cost of Goods Sold |
47 Cost of goods sold |
Main form, 2 Cost of goods sold |
|
Gross Profit |
|
|
= Net Sales – Cost of Goods Sold |
Compensation of Officers |
48 Compensation of officers |
Main form, 12 Compensation of officers |
|
Repairs & Maintenance |
50 Repairs |
Main form, 14 Repairs and maintenance |
|
Bad Debts |
51 Bad debts |
Main form, 15 Bad debts |
|
Rent Paid on Business Property |
52 Rent paid on business property |
Main form, 16 Rents |
|
Charitable Contributions |
55 Charitable contributions |
Main form, 19 Charitable contributions |
|
Amortization |
56 Amortization |
Main form, 26 Other deductions |
|
Depreciation |
57 Depreciation |
Main form, 20 Depreciation |
|
Depletion |
58 Depletion |
Main form, 21 Depletion |
|
Advertising |
59 Advertising |
Main form, 22 Advertising |
|
Def'd Comp (Pension, Prof Shr, etc.) |
60 Pension, profit-sharing, etc., plans |
Main form, 23 Pension, profit-sharing, etc., plans |
Deferred compensation plans |
Employee Benefit Programs |
61 Employee benefit programs |
Main form, 24 Employee benefit programs |
|
Other Expenses |
|
|
= Total Operating Expenses – (sum of all operating expenses detailed above) |
Total Operating Expenses |
48 Compensation of officers 49 Salaries and wages 50 Repairs 51 Bad debts 52 Rent paid on business property 53 Taxes paid 55 Charitable contributions 56 Amortization 57 Depreciation 58 Depletion 59 Advertising 60 Pension, profit-sharing, etc., plans 61 Employee benefit programs 62 Domestic production activities. 64 Other deductions |
Main form, 12 Compensation of officers Main form, 13 Salaries and wages Main form, 14 Repairs and maintenance Main form, 15 Bad debts Main form, 16 Rents Main form, 17 Taxes and licenses Main form, 19 Charitable contributions Main form, 26 Other deductions Main form, 20 Depreciation Main form, 21 Depletion Main form, 22 Advertising Main form, 23 Pension, profit-sharing, etc., plans Main form, 24 Employee benefit programs Main form, 25 Domestic production activities Main form, 26 Other deductions |
Sum of listed items |
Operating Profit |
|
|
= Gross Profit – Total Operating Expenses |
Other Revenue |
34 Total receipts 35 Business receipts |
|
= 34 Total receipts – 35 Business receipts |
Interest Paid |
54 Interest paid |
Main form, 18 Interest |
|
Net Loss on Non-Capital Assets |
63 Net loss, noncapital assets |
|
|
Net Other Items as Expense |
|
|
= – (Other Revenue – Interest Paid – Net Loss on Non-Capital Assets) |
Earnings Before Taxes (EBT) |
|
|
= Operating Profit + Net Other Items as Expense |
Income Tax |
76 Income tax |
Schedule J, 2 Income tax |
|
Net Income |
|
|
= EBT – Income Tax |