Scribd
Upload
109 views

JEAA Instamart Income Statement

The income statement shows the company's revenues, costs, and expenses for 2021-2023. In 2021, the company had a net loss of $54,750 due to net sales of -$4,000 and total operating expenses of $30,750. In 2022 and 2023, the company projects net sales of $74,000 and total operating expenses remaining at $30,750, leading to a projected net profit of $23,250.

Uploaded by

JEAA Instamart
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
109 views

JEAA Instamart Income Statement

The income statement shows the company's revenues, costs, and expenses for 2021-2023. In 2021, the company had a net loss of $54,750 due to net sales of -$4,000 and total operating expenses of $30,750. In 2022 and 2023, the company projects net sales of $74,000 and total operating expenses remaining at $30,750, leading to a projected net profit of $23,250.

Uploaded by

JEAA Instamart
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 1

JEAA Instamart Income Statement

Date Created: Date Issued:


5 April, 2023

Income Statement
Revenue 2021 2022 2023
Sales $78,000.00 $78,000.00
Less: Sales Return $3,000.00 $3,000.00 $3,000.00
Less: Discounts and Allowances $1,000.00 $1,000.00 $1,000.00
Net Sales -$4,000.00 $74,000.00 $74,000.00
Cost of Goods Sold
Materials $8,000.00 $8,000.00 $8,000.00
Labor $9,000.00 $9,000.00 $9,000.00
Overhead $2,000.00 $2,000.00 $2,000.00
Total Cost of Goods Sold $19,000.00 $19,000.00 $19,000.00
Gross Profit -$23,000.00 $55,000.00 $55,000.00
Operating Expenses
Wages $10,000.00 $10,000.00 $10,000.00
Advertising $500.00 $500.00 $500.00
Repairs & Maintenance $100.00 $100.00 $100.00
Travel $50.00 $50.00 $50.00
Rent/Lease $5,000.00 $5,000.00 $5,000.00
Delivery/Freight Expense $1,000.00 $1,000.00 $1,000.00
Utilities/Telephone Expenses $1,000.00 $1,000.00 $1,000.00
Insurance $500.00 $500.00 $500.00
Mileage $1,500.00 $1,500.00 $1,500.00
Office Supplies $1,000.00 $1,000.00 $1,000.00
Depreciation $8,000.00 $8,000.00 $8,000.00
Interest $2,000.00 $2,000.00 $2,000.00
Other Expenses $100.00 $100.00 $100.00
Total Operating Expenses $30,750.00 $30,750.00 $30,750.00
Operating Profit (Loss) -$53,750.00 $24,250.00 $24,250.00
Add: Other Income
Interest Income $2,000.00 $2,000.00 $2,000.00
Other Income $1,000.00 $1,000.00 $1,000.00
Profit (Loss) Before Taxes -$50,750.00 $27,250.00 $27,250.00
Less: Tax Expense $4,000.00 $4,000.00 $4,000.00

Net Profit (Loss) -$54,750.00 $23,250.00 $23,250.00

You might also like