Income Statement Template

This income statement and vertical analysis template comes complete with common income statement line items. Just like in our balance sheet template, it’s easier to start with a solid framework than from a blank page. Plus, you’ll find notes containing helpful tips on many line items. To top it all off, you can use this income statement template to perform a vertical analysis.  Not interested in the vertical analysis? Delete what you don’t need.

No fancy formulas, no fancy formatting, and no macros.  This is just a simple income statement and vertical analysis template that you can actually use.

Income Statement Template

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Income Statement Download

Income Statement Download

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Income Statement Template Blank
Income Statement Template with Data

This income statement template is set up to reflect a two year period along with a vertical analysis of each year. The vertical analysis is based on net revenue – the most common denominator used in a vertical analysis of the income statement. The purpose of a vertical analysis is to perform a proportional analysis of each individual line item relative another line item.

One way to add additional insight to such an analysis is to evaluate the proportions of income statement line items over time, in order to identify trends, outliers, or potential errors. The income statement provided here is a template that has been constructed with common line items which can be added to, or removed as needed. When rows are added or deleted, the formulas need to be reviewed in order to ensure they are capturing the new items We’ve also included notes on certain line items in order to provide additional information for that line.

The income statement is part of the basic financial statements which typically represent a balance sheet, income statement, statement of cash flows, statement of equity and related footnotes.  Typically, companies utilize the balance sheet and income statement in order to report to the bank, manage their business, etc.

When preparing an income statement consider the following:

  • Show the individual line items that are meaningful to the users
  • Keep your reporting consistent
  • The operating sections are the items that are a direct result of the company’s regular operations
  • The non-operating sections are those items related to the business, but not a direct result of its regular operations
  • The income statement is designed to show items recognized over a specified period (i.e., Monthly, Quarterly or Yearly).

Other Helpful Templates

Download a balance sheet vertical analysis template here.

Download a statement of cash flow template – this template helps in the creation of a statement of cash flows.

Evaluate your financials with this EBITDA & Financial Leverage Template.

Note, this template is set up as an example. The facts and circumstances surrounding individual transactions will dictate how and where those transactions are classified.

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