Grape Leaf Income Statement 040609 050309

The income statement summarizes the revenue, costs, and expenses for Grape Leaf for two periods - April 6-19 and April 20-May 3. For the first period, Grape Leaf had $9,000 in net sales but a net loss of $5,045. For the second period, Grape Leaf increased net sales to $11,000 but decreased its net loss to $2,045, showing an improvement in operations. The statement tracks the company's gross profit/loss, operating expenses, net income before/after taxes, and final net income/loss for each period.