LSDNFNF;FK'w;k

SALES 9,070,000 SALES RETURNS & ALLOWANCES -200,000 NET SALES 8,870,000 INVENTORY BEGINNING 1,500,000 PURCHASES 5,750,000 TRANSPORTATION IN 150,000 TOTAL 7,400,00 PURCHASE DISCOUNTS -100,000 GOODS AVAILABLE FOR SALE 7,300,000 INVENTORY ENDING ### COST OF SALES 5,900,000 GROSS INCOME EXPENSES: OFFICE SALARIES 400,000 OFFICE SUPPLIES 60,000 SALES SALARIES 500,000 STORE SUPPLIES 80,000 DEP'N STORE EQUIPMENT 110,000 UNINSURED FLOOD LOSS 340,000 DEP'N BUILDING 120,000 TOTAL EXPENSES INCOME BEFORE TAX INCOME AFTER TAX NET INCOME PROFIT

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Transcript of LSDNFNF;FK'w;k

Sheet1YOUTH COMAPANYINCOME STATEMENTFOR THE YEAR ENDED DEC. 31, 2010

SALES9,070,000SALES RETURNS & ALLOWANCES-200,000NET SALES8,870,0008,870,000INVENTORY BEGINNING1,500,000PURCHASES5,750,000TRANSPORTATION IN150,000TOTAL7,400,00PURCHASE DISCOUNTS-100,000GOODS AVAILABLE FOR SALE7,300,000INVENTORY ENDING-1,400,000COST OF SALES5,900,0005,900,000GROSS INCOME2,970,000EXPENSES:OFFICE SALARIES400,000OFFICE SUPPLIES60,000SALES SALARIES500,000STORE SUPPLIES80,000DEP'N STORE EQUIPMENT110,000UNINSURED FLOOD LOSS340,000DEP'N BUILDING120,000TOTAL EXPENSES-1,610,000INCOME BEFORE TAX1,360,000INCOME AFTER TAX-360,000

NET INCOME PROFIT1,000,000

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