accounting

• income statement

  sales revenue

  less returns in

  net sales revenue

  cost of sales:

  opening inventory

  purchases

  carriage in

  (returns out)

  (closing inventory)

  gross profit

  add other income

  less expenses

  profit for the year
• statement of financial position

  Non current assets

  current assets

  capital and liabilities

  non-current liabilities

  current liabilities