NICE SPRING ICEE DELIGHT (DUMAGUETE)

Income Statement
For the month ended December 31, 2020

Gross Sales
(Cash) PHP 133,607.00

Collections -
Less: Sales Returns and Allowances
765 2.00 1,530.00 PHP 1,530.00
-
Net Sales 132,077.00

Less: Cost of Goods Sold

94,476.75
Gross Profit 37,600.25
Less: Expenses
Repair and Maintenance 1,550.00
Fuel Expense 4,150.00
Salaries 9,000.00
Iolo 3,000.00
Richard 3,000.00
Other Operating Expense 1,840.00
Rent 5,000.00
Utilities -
Subsidy 1,400.00 28,940.00
Net Income PHP 8,660.25

Prepared By: Approved By:

Aristides B. Quijano II, CMA Iolo T. Quijano, RN
Notes:

Gross Sales
(Cash) 297.00 PHP 15.00 PHP 4,455.00
3,400.00 6.00 20,400.00
7,051.00 5.50 38,780.50
7,490.00 5.00 37,450.00
7,227.00 4.50 32,521.50 133,607.00

Add: Cash
Collections

Less: Sales Returns and Allowances 1,530.00

SF 253.00
BOC 458.00
BOR 54.00 765.00

Net Sales 132,077.00

Less: Cost of Sales (Cash sales)
297.00 10.00 2,970.00
10,451.00 4.00 41,804.00
7,490.00 3.50 26,215.00
7,227.00 3.25 23,487.75 94,476.75