Sample Balance Sheet and Income Statement Excel - Free Download
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Example using "Normalization" on an Individual's "Income Statement" and "Balance Sheet"
Jane Doe's Normalized Personal "Income Statement"
Note: This is similar (NOT identical) to what you will do when you normalize your company's income statement and balance sheet
20% raise, slight increases in expenses
Monthly Monthly
Average Annual Normalized Average Annual
Normalized
Income:
Base Salary 4800 57600 83% 4000 48000 80%
Bonuses/Consulting 1000 12000 17% 1000 12000 20%
Total Income 5800 69600 100% 5000 60000 100%
Expenses/Taxes:
Taxes, etc. 1740 20880 30% 1500 18000 30%
Mortgage Payment 1000 12000 17% 1000 12000 20%
Car Payment 500 6000 9% 400 4800 8%
Credit Card/Other Pay 200 2400 3% 200 2400 4%
Utilities 500 6000 9% 500 6000 10%
Gas for Car 78.48 941.76 1% 65.4 784.8 1%
Savings 870 10440 15% 500 6000 10%
Food, Misc. 800 9600 14% 800 9600 16%
Total Expenses 5688.48 68261.76 98% 4965.4 59584.8 99%
Budget "Profit/Slack" 111.52 1338.24 2% 34.6 415.2 1%
Jane Doe's Normalized Personal "Balance Sheet"
Assets
Cash 5000 1% 5000 1%
Securities 60000 10% 50000 9%
Retirement Plans/401k 115000 19% 100000 19%
Food/Personal 6000 1% 5000 1%
Total Current Assets 186000 31% 160000 30%
Fixed Assets
Car 40000 7% 30000 6%
Other Insurable Assets 50000 8% 45000 8%
Household Property 100000 17% 100000 19%
House 220000 37% 200000 37%
Total Fixed Assets 410000 69% 375000 70%
Total Assets 596000 100% 535000 100%
Liabilities & Equity:
Liabilities:
Credit Card/Other debt 8000 1% 5000 1%
Student Loan 7000 1% 8000 1%
Car Loan 35000 6% 20000 4%
Home Mortgage Balance 140000 23% 150000 28%
Total Liabilities 190000 32% 183000 34%
Equity: 406000 68% 352000 66%
Total Liabilities + Equity 596000 100% 535000 100%
Year 2000 Information
Year 2001 Information
