0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
Introduction to Income Statements With
Sage 50 Complete Accounting
Section 0130A
Presentation Objectives
The goal of this section is to present the following concepts to the reader.
1.
Recap of the flow of the four basic financial statements.
2.
An introduction to accessing Sage 50 Complete Accounting financial reports.
3.
An introduction into income statement basics.
4.
An introduction the Standard Income 12 Period Report of Sage 50 Complete Accounting.
5.
An introduction the Standard Income/Earning Report of Sage 50 Complete Accounting.
6.
An introduction into the options with the Sage 50 Complete Accounting Income Statement
Report.
7.
An introduction to the drill down function available in Sage 50 Complete Accounting.
Contents
Presentation Objectives
1
Copyright and Legal Protection Issues
2
Support File
2
The Flow of the Four Basic Financial Statements
2
Accessing Sage 50 Complete Accounting Financial Reports
3
Income Statement Basics
5
The Standard Income 12 Period Report
10
The Standard Income/Earnings Report
12
Options with the Sage 50 Complete Accounting Income Statement Report
14
Time Frame – Current Period or Range
15
(Page) Setup
16
E-mail
16
(Microsoft) Excel
17
PDF
18
(Print) Preview and Design
18
Find
20
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 1 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
Drill Down into the Ledger
20
Copyright, Patent, Trademark, Trade Logo, and Service Marks Acknowledgements
22
Sage Software, Inc.
22
Texas Instruments Incorporated
22
Microsoft Corporation
22
Adobe Systems Incorporated
22
Index
23
Copyright and Legal Protection Issues
This text section is using Sage 50 Complete Accounting and the example
companies, Bellwether Garden Supply and Stone Arbor Landscaping, provided for
education, personal, and professional development within that product. Sage
Software, Inc. has legal protections in place such as copyrights and patents for its
products. I believe I am within those boundaries when I use their included assets
for the use of education, personal, and professional development in this manner.
Support File
There is a Microsoft Excel file, 0130A-Intro to the Income Statements with Sage
50 Complete Accounting-2015-01-01, in support of this section. There are also
PDF files of several companies annual shareholders’ reports and SEC filings in the
directory.
The Flow of the Four Basic Financial Statements
As presented in the 0120 series, Intro to Financial Statements with Sage 50
Complete Accounting, there are four financial statements and they flow in a
sequence of the income statement, the statement of retained earnings, balance
sheet, and the statement of cash flows. The income statement and balance sheet
have rather intense interactions passing through the statement of retained earnings
as shown in the 0120 series. Computerized accounting applications such as Sage
50 Complete Accounting are primarily management and data manipulation tools.
This is not a negative comment, the primary activity of management is to manage,
not report, and presented information needs to be of assistance in that process. The
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 2 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
output of these systems frequently does not meet the needs or desires for publicly
released financial statements. If you look at the several of the reference files for
company reporting in the Class Support Files directory you will see that the
financials are “comparative,” showing more than one year in all reports. This
comparative presentation is usually done outside of the computerized accounting
package in use by the company, often within an application such as Microsoft
Excel. This is most likely one of the reasons Sage 50 Complete Accounting has
export tools to Microsoft Excel in almost all reports.
In this section we will look at several of the income related reports of Sage 50
Complete Accounting. I have downloaded many of them and saved them in the
0130A-Intro to the Income Statements with Sage 50 Complete Accounting
reference file. Only portions of them are reprinted here.
Accessing Sage 50 Complete Accounting Financial Reports
By clicking on Forms & Reports of the menu bar of Sage 50 Complete Accounting
you will attain access to the drop-down menu options.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 3 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
Click on the Financial Statements option to access the various financial statements
available within Sage 50 Complete Accounting.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 4 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
Within Sage 50 Complete Accounting there are five preformatted income
statement options. The “<Standard>” in front of each lets you know that these are
preformatted. You have the ability within Sage 50 Complete Accounting to create
your own reports and establish the formats within some limits. All of these
standard reports are actually reports focused on the needs of management
presenting information for decision-making. All of the income statement formats
for Bellwether Garden Supplies have been exported into the Microsoft Excel
reference file, 0130A-Intro to Income Statements with Sage 50 Complete
Accounting. They may have been slightly reformatted for easier reading and
display.
Income Statement Basics
The basics of the income statement, sometimes referred to by such titles as the
statement of operations or the statement of earnings, is the presentation of
revenues, expenses, gains, and losses for a specific range of time. It starts with a
header of three lines. The first and second lines are absolutes. The first line is the
full, legal, name of the company. This cannot be changed or abbreviated. If the
company’s name is Miramar Student Accounting Services Incorporated, you
cannot abbreviate it in the title line to Miramar Student Accounting Services Inc.
because you feel it is too long to spell it out. For publicly traded companies the
best location of the names is on the SEC filed reports. The second line will be the
title of the report, such as Income Statement.
The third line has some variations due to presentations. If only one fiscal period
such as month, quarter, semi-annual period, or year is presented for management
use the third line may read such as “For the Month Ended January 31, 2015.” For
publicly released financials, which are comparative, the third line may read “For
the Year Ended December 31” with the years posted over the columns representing
their values. In the abbreviated through copy, crop, and paste portion of a sample
income statement from Bellwether, below, the third line reads “For the Three
Months Ending March 31, 2015.”
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 5 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
One variation is seen as the header in Sage 50 Complete Accounting’s income
statement for twelve periods, as shown here. As a management report, the second
line of the title is modified to identify the report’s purpose, “Income Statement –
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 6 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
12 Periods” and the third line provides specifics for the report, “For January 1,
2015 through December 31, 2015.” As a management document not to be
distributed to the public, there is no violation of U.S. GAAP or SEC codes with
this titling.
Below the header the income statement presents only revenues, expenses, gains,
and losses in its simpler formats. In more complex companies and accounting
courses you will address the issue of comprehensive income statements. Revenues,
expenses, gains, and losses are values, not necessarily cash. For example the sale
on January 5, 2015, for $3,000 with a cost of goods sold of $1,200, may be for
cash or on account meaning you expect payment sometime in the future. The
journal entry for this sale with cash being received is shown here.
Jan 05, 2015
Cash
3,000.00
Sales Revenues
Cost of Goods Sold
1,200.00
Inventory
Sold $1,200 in inventory for $3,000 cash.
3,000.00
1,200.00
If this sale had been on account, the journal entry would look like this.
Jan 05, 2015
Accounts Receivable
3,000.00
Sales Revenues
Cost of Goods Sold
1,200.00
Inventory
Sold $1,200 in inventory for $3,000 on account.
3,000.00
1,200.00
Regardless of whether cash was received or the sale was made on account, the
income statement receives a credit value of $3,000. The Cash or the Accounts
Receivable account on the balance sheet receives the debit value of $3,000. The
Cost of Goods Sold value of $1,200 is a debit value recognizing the expense of
earning the sale value. So this sale increases revenues by $3,000 and expenses by
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 7 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
$1,200 resulting in the value of ($3,000 - $1,200) titled Gross Profit on the income
statement.
This process, as it continues through the income statement, will answer several
important questions in many formats. Did the sale cover our cost of goods sold? If
revenues, a credit value increasing owners’ equity in its flow through the income
statement and the statement of retained earnings to the balance sheet, is greater
than the debit value of Cost of Goods Sold, the answer is yes. This is good. Then
the second question comes into play. Did the sale resolve my operating expenses
associated with making the sale? This is often an “over a period of time”
evaluation as you do not know, and do not want to spend the time figuring out the
wages, utilities, insurance, rent, etc. costs associated with making one sale.
However, assume that Wages Expense of $25, Utilities Expense of $10, Insurance
Expense of $3, and other expenses of $4 are associated with this one sale. Total
operating expenses, those associated with the sale floor, are ($25 + $10 + $3 + $4)
$42. Therefore, Income from Operations which is Gross Profit less Operating
Expenses is ($1,800 - $42) $1,758. This is good. Our sales floor is operating
profitably.
The third question is does this sale cover the associated General & Administrative
Expenses, those expenses of the company outside of the sales floor such as the
president’s salary, the human resources department, the accounting department, the
legal department or contract lawyer, the advertising department, the cost of the
headquarters building, etc. Assume these costs are $128. This leaves you an
income before income taxes (Income from Operations – General & Administrative
Expenses) of ($1,758 - $128) $1,630. This is good. So far revenues, a credit value,
has exceeds all the associated expenses, which are debit values.
Assume that income taxes are 30%, the income tax burden could be (1,630 × 30%)
$489 reducing this $3,000 sale to a net income of $1,141.
Remember, this example value of $1,141 is the assumed net income from one
$3,000 sale. The company has costs incurred for lookers and not buyers. While the
company may not have Cost of Goods Sold, it does have the cost of many other
items such as janitorial, sales representatives, insurance, utilities, president’s
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 8 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
salary, human resources, etc. Many expenses incurred because of someone entering
the company and not purchasing anything. This sale must cover those non-sale
expenses.
In the simplest format the income statement is shown as:
Formal, Legal Name of the Company
Income Statement
Range Reference Line
Net Revenues
$100.00
Less Expenses
75.00
Net Income
$25.00
This is the format often presented in textbook accounting. As a management
document there is much lacking and often requires “adjustments by the recipients
to answer those previous question, Did we cover the cost of goods sold? Did we
cover our selling expenses? Etc. So the format is often expanded as shown here.
Formal, Legal Name of the Company
Income Statement
Range Reference Line
Sales Revenues
$108.00
Less Sales Returns & Allowances
5.00
Less Sales Discounts
3.00
Net Sales
Less Cost of Goods Sold
Gross Profit
Selling Expenses
Selling Wages Expense
10.00
Rent Expense
4.00
Utilities Expense
3.00
Total Selling Expenses
Income from Operations
General & Administrative Expenses
Admin Wages Expense
10.00
Office Rent Expense
3.00
Total G&A Expenses
Income Before Income Taxes
Income Taxes Expense (40%)
Net Income
$100.00
45.00
55.00
17.00
38.00
13.00
25.00
10.00
$15.00
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 9 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
However, for publicly released comparative statements are required so the previous
fiscal period’s values are presented.
The Standard Income 12 Period Report
An abbreviated through copy, crop, and paste portion of the <Standard> Income 12
Period report for Bellwether Garden Supply is shown here. It is a management
document and shows “periods” understood to be months from reading the date
range line in the header. This report allows the reader to evaluate performance and
changes from periods. Bellwether is a garden supply operation. As such they
would expect specific product lines to vary throughout the year due to seasons. To
provide additional value to the company this report can be exported into Microsoft
Excel and a trend report over several years can be easily constructed by combining
several years’ reports.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 10 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 11 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
The Standard Income/Earnings Report
An abbreviated through copy, crop, and paste portion of the <Standard>
Income/Earnings report for Bellwether Garden Supply is shown here. The second
and fourth numerical columns are percentages based on vertical analysis. Sales is
0.34% of Total Revenues while Sales – Aviary is 8.10% of total sales. Direct
Labor – Nursery is 1.99% of Total Revenues while Material Costs – Nursery are
6.18% of Total Revenues. These two costs are part of produced, Cost of Goods
Sold, items. Wages Expense, an Expense item is 50.91% of Total Revenues. This
type of information is what makes these types of reports the powerful management
tool they are in a preformatted presentation.
Notice that the bottom shows the changes in Retained Earnings. Not a presentation
you would see on an income statement for public release.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 12 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 13 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
Options with the Sage 50 Complete Accounting Income Statement Report
Using the <Standard> Income Statement report as the example, when you select
this report Sage 50 Complete Accounting will provide you with a dialog box,
shown here.
The defaults have the Time Frame set to Current Period while Print Page Numbers
and Show Zero Amounts are selected. While I may shift the Time Frame, as a
matter of preference, I leave Print Page Numbers and Show Zero Amounts
selected. The options for Time Frame are Current Period or Range for this report,
they may vary appropriate with other reports. You can select your personal
preference for Print All Words Capitalized and Center on Page.
Advisory on margins, make sure your printer is capable of the margins set within
Sage 50 Complete Accounting.
Having zeros show up in managerial reports makes the reports longer but may
make you aware of an omission or error in the accounting records. This is
particularly true working with adjustments at the end of fiscal periods.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 14 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
Time Frame – Current Period or Range
By selecting Range in the drop-down options Sage 50 Complete Accounting
allows you to change the From and To window values through drop-down menu
options. These are often limited by the period that Sage 50 Complete Accounting is
working in. Accounting periods are addressed in the 9020A-Basics of Sage 50
Complete Accounting section.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 15 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
This is the Bellwether income statement for the month ending January 31, 2015.
The menu line of the <Standard> Income Statement has File, Edit, Go To,
Window, and Help while the task bar has icons for actions such as Close, Save,
and Print. The menu bar options are usually associated with drop-down menus
while most of the icons on the task bar are one-click options or one click to bring
up a dialog box. On the menu bar the Window option will usually give you a
choice of selecting the Reports & Forms dialog box or going back to Sage 50
Complete Accounting without closing the current report.
The task bar has another Options opportunity. With it you can make the same
choices about range or current period, page numbers, and zeros.
(Page) Setup
(Page) Setup from the menu bar allows you to set Portrait (default in most cases) or
Landscape printing as well as the size of the printed sheet.
E-mail
Using the E-mail icon, you can e-mail displayed reports out of Sage 50 Complete
Accounting. Your e-mail system must be Messaging Application Programming
Interface (MAPI) compliant. Sage Software provides the advisory that AOL is not
fully MAPI compliant. When utilized, it opens your e-mail application and allows
you to insert a receiving e-mail address, override the default title the e-mail, and
enter text as desired before sending the e-mail.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 16 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
(Microsoft) Excel
The (Microsoft) Excel icon opens a dialog box, shown here.
The default is to Create a new Microsoft Excel workbook. I was exporting several
income related reports to the section reference file so I utilized the Add a new
worksheet to an existing Microsoft Excel workbook option. I accept the default of
Use Freeze panes (headers and labels are visible) in the Excel options section.
Depending on what I am doing I will select Show Header in Excel worksheet over
Send header to Page Setup in Excel. With Send Header, you will not see the header
until you do Print Preview or print the report. For data manipulation select Raw
data layout in the Report layout option area. For comparison, I have downloaded
the <Standard> Income Statement from Bellwether using the Sage 50 report layout
and Show header in Excel worksheet options to the Microsoft Excel Income Stmnt
Report-Header tab of the section reference file.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 17 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
PDF
The PDF (Portable Document Format) utilizes an internal capability of Sage 50
Complete Accounting to create a PDF file of the displayed report. While using this
option you can select the destination and name of the saved file.
(Print) Preview and Design
Preview is a Print Preview option. This comes into play with Design option. While
the Design option is a bit above this section’s level, you can play with it as much
as you want. The first dialog box is shown here
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 18 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
By selection a line, such as Line Description is in the Expenses section you can
then select one of the icons on the left side. By selection Properties you access
another dialog box, shown here.
If your selling expenses are set in the 5000-5999 range and general and
administrative expenses are set in the 6000-6999 range you can separate those
accounts and totals to help you answer the Did I recover my cost of goods sold?,
Did I recover my selling expenses?, and Did I recover enough costs to cover
general and administrative expenses? After you have modified a report you can
click on Preview to see what it will look like printed or e-mailed. Clicking on Save
will allow you to save the format for later use.
No not hesitate in playing with specialized formatting. You can always delete the
format if it does not work.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 19 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
Find
The Find icon takes you to the Find on Report dialog box. The Find function works
with text or values. You have search limiting options you can select. To
demonstrate its power, I searched for “9,” which would return any value of 9
followed by a coma such as 9,000 or 9,000,000.
Drill Down into the Ledger
When placing your cursor over a dollar value in the income statement your cursor
should turn into a magnifying glass with a capital Z in the lens area. During this
presentation double click the left (default button) mouse button and Sage 50
Complete accounting will “drill down” into the general ledger for the same account
with the same period as selected in the income statement. Drill down continues in
the general ledger. You can drill down through any dollar value to the journal entry
or screen that entered it.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 20 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 21 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
Copyright, Patent, Trademark, Trade Logo, and Service Marks
Acknowledgements
Sage Software, Inc.
This course is based on the utilization of Sage 50 Complete Accounting. All
references to, and images of Sage products are protected by Sage Software, Inc.
Their U.S. contact information is Sage Software, Inc., 6561 Irvine Center Drive,
Irvine, CA 92618-2301. As the author of this text, Sage Software has been very
generous in offering their software for educational endeavors. This software has
restrictions to its use, it cannot be utilized in a non-educational application, and
cannot be sold, resold, or traded for compensation.
Texas Instruments Incorporated
Devices such as the Texas Instruments BAII Plus Professional, BAII Plus, and TI84 series calculators are protected by Texas Instruments Incorporated (TI). Their
reference here is not intended to violate any of the legal protections that TI has. I
use their BAII Plus Professional Emulator in my classroom and may have used it
in this section to clarify the information or to show how to utilize this device. TI
can be contacted at Texas Instruments Incorporated, P.O. Box 660199, Dallas, TX
75266-0199.
Microsoft Corporation
Microsoft has legal protections over products such as Microsoft Office and its
elements such as Microsoft Word (Used to write this text), Microsoft Excel,
Microsoft PowerPoint, and Microsoft Access. It also has legal protection in place
for its products such as Microsoft Dynamics ERP. Their contact information is
Microsoft Corporation, One Microsoft Way, Redmond, WA 98052-6399.
Adobe Systems Incorporated
Adobe has legal protections over products such as Adobe Acrobat, Adobe
Photoshop, and Adobe Dreamweaver. Several of those products were utilized in
the production of this text. Adobe Reader can be downloaded from:
http://get.adobe.com/reader/?promoid=KLXME
Their contact information is Adobe Systems Incorporated, 345 Park Avenue, San
Jose, CA 95110-2704.
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 22 of 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.Docx
Index
(
L
(Microsoft) Excel .............................................................. 17
(Page) Setup ...................................................................... 16
(Print) Preview and Design ............................................... 18
Learning Objectives ........................................................... 1
A
Microsoft Corporation ...................................................... 22
Accessing Sage 50 Complete Accounting Financial Reports
....................................................................................... 3
Adobe Systems Incorporated ............................................ 22
O
C
Copyright and Legal Protection Issues ............................... 2
M
Options with the Sage 50 Complete Accounting Income
Statement Report ......................................................... 14
P
PDF .................................................................................. 18
D
Drill Down into the Ledger ............................................... 20
E
S
Sage Software, Inc............................................................ 22
Support File ........................................................................ 2
E-mail ............................................................................... 16
T
F
Texas Instruments Incorporated ....................................... 22
The Flow of the Four Basic Financial Statements .............. 2
The Standard Income 12 Period Report ........................... 10
The Standard Income/Earnings Report............................. 12
Time Frame – Current Period or Range ........................... 15
Find ................................................................................... 20
I
Income Statement Basics .................................................... 5
Index ................................................................................. 23
0130A-Intro To Income Statements With Sage 50 Complete Accounting-2015-01-01.DocxCopyright © 2015 by Rex A
Schildhouse, www.schildhouse.com
Page 23 of 23