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  • Latin Goodness Foods Llc/Maspanadas: Profit and Loss

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    Jorge Arango
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    Latin Goodness Foods LLC/MasPanadas profit and loss statement from January 1 to August 22, 2020 shows total income of $386,151.01, total cost of goods sold of $197,334.32, and gross profit of $188,816.69. Total expenses for the period were $243,994.99, resulting in a net operating income. Major expenses included payroll expenses of $139,201.82, legal and professional services of $23,847.50, advertising and marketing of $14,996.33, and rent and lease of $22,365.00.

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    Latin Goodness Foods LLC/MasPanadas profit and loss statement from January 1 to August 22, 2020 shows total income of $386,151.01, total cost of goods sold of $197,334.32, and gross profit of $188,816.69. Total expenses for the period were $243,994.99, resulting in a net operating income. Major expenses included payroll expenses of $139,201.82, legal and professional services of $23,847.50, advertising and marketing of $14,996.33, and rent and lease of $22,365.00.

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    24 views3 pages

    Latin Goodness Foods Llc/Maspanadas: Profit and Loss

    Uploaded by

    Jorge Arango
    Latin Goodness Foods LLC/MasPanadas profit and loss statement from January 1 to August 22, 2020 shows total income of $386,151.01, total cost of goods sold of $197,334.32, and gross profit of $188,816.69. Total expenses for the period were $243,994.99, resulting in a net operating income. Major expenses included payroll expenses of $139,201.82, legal and professional services of $23,847.50, advertising and marketing of $14,996.33, and rent and lease of $22,365.00.

    Copyright:

    © All Rights Reserved
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    of 3

    Latin Goodness Foods LLC/MasPanadas

    PROFIT AND LOSS


    January 1 - August 22, 2020

    TOTAL
    Income
    CPG 1,229.25
    Meal 32,395.79
    Snacks 125,923.32
    Total CPG 159,548.36
    Direct to consumer sales 1,012.12
    Online sales 8,322.57
    PayPal Sales 1,541.42
    Sales at Events 166.00
    Total Direct to consumer sales 11,042.11
    Discounts given -4,449.16
    Food service 2,307.13
    Jumbo (5 oz) 1,105.92
    Medium size (3oz) 44,781.60
    Mini size (1 oz) 13,381.37
    Sauces 7,711.08
    Total Food service 69,287.10
    Private Label 146,025.60
    Sales 0.00
    Service/Fee Income 310.00
    Try Hungry Catering 4,387.00
    Total Income $386,151.01
    Cost of Goods Sold
    Cost of Goods Sold
    Copacking Expense 39,282.99
    Ingredients - COGS 42,576.79
    Packaging - COGS 111,420.55
    Total Cost of Goods Sold 193,280.33
    Purchases 1,975.00
    Shipping 2,078.99
    Total Cost of Goods Sold $197,334.32
    GROSS PROFIT $188,816.69
    Expenses
    Advertising & Marketing
    Branding and Design 10,228.99
    Digital 3,472.36
    Events 100.00
    Samples 1,194.98
    Total Advertising & Marketing 14,996.33

    Accrual Basis Saturday, August 22, 2020 03:32 PM GMT-04:00 1/3


    Latin Goodness Foods LLC/MasPanadas
    PROFIT AND LOSS
    January 1 - August 22, 2020

    TOTAL
    Bad Debt 406.21
    Dues & subscriptions 1,092.50
    Education 349.00
    Fees
    Banking Fees 477.11
    Licenses and Permits 4,727.72
    Merchant Fees 101.44
    PayPal Fees 42.97
    QuickBooks Payments Fees 441.32
    Stripe Fees 81.57
    Total Fees 5,872.13
    Information Technology 697.99
    Insurance 1,351.36
    Workers Compensation 3,652.80
    Total Insurance 5,004.16
    Legal & Professional Services
    Accounting 6,850.00
    Consultants 16,500.00
    Legal Services 497.50
    Total Legal & Professional Services 23,847.50
    Local Transportation
    Auto 46.65
    Fuel 277.10
    Parking 49.96
    Total Local Transportation 373.71
    Meeting Expense 155.58
    Office Supplies 1,595.04
    Other Business Expenses 75.04
    Payroll Expenses
    Contractors 8,493.00
    Management Services 10,400.00
    Payroll Taxes 12,995.20
    Salaries & Wages 34,028.31
    Admin 3,750.00
    Production 69,535.31
    Total Salaries & Wages 107,313.62
    Total Payroll Expenses 139,201.82
    Payroll Processing Fees 1,264.96
    Pest Control 140.00
    Postage and Delivery 2,130.38

    Accrual Basis Saturday, August 22, 2020 03:32 PM GMT-04:00 2/3


    Latin Goodness Foods LLC/MasPanadas
    PROFIT AND LOSS
    January 1 - August 22, 2020

    TOTAL
    Rent & Lease 21,475.00
    Freezer storage 890.00
    Total Rent & Lease 22,365.00
    Repairs & Maintenance 8,458.95
    Research and development 1,919.88
    Supplies and Smallwares 5,683.05
    Travel 22.42
    Utilities 8,343.34
    Total Expenses $243,994.99
    NET OPERATING INCOME $ -55,178.30
    Other Income
    Late Fee Income 1,301.47
    Other Income 235.22
    Total Other Income $1,536.69
    Other Expenses
    Interest Paid 4,126.96
    Taxes 0.00
    Total Other Expenses $4,126.96
    NET OTHER INCOME $ -2,590.27
    NET INCOME $ -57,768.57

    Accrual Basis Saturday, August 22, 2020 03:32 PM GMT-04:00 3/3

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