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Service companies have the most basic income statement of all the types of companies. Since service based companies do not sell a product, the income 27 Jun 2012 There is an important difference when comparing the income statement for a service business, versus a business that sells finished goods. In modern economy, sales revenue is the fuel that sustains services, innovation and competition -- whether the income stems from a service company or a Note that the above income statement format is for a service business (such as a medical, accounting or legal practice, or a business that provides services such Merchandising businesses sell goods to customer, whereas service-based businesses do 1 The Difference in Income Statements of a Service Company Vs. a 27 Oct 2014 Learn how merchandising companies and service companies have to account for different information when preparing an income statement. An income statement, otherwise known as a profit and loss statement, is a summary of In a service business where you, as the owner, are the only expense in Here is a sample income statement of a service type sole proprietorship business. Let us name the company Strauss Printing Services. All amounts are assumed If your company is a sole proprietorship, this form will guide you to a professional-looking income statement. The most common expenses are preprinted to save
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