INCOME STATEMENT

SALES 1,155,000,000.00
SALES RETURN 6,300,000.00
SALES DICOUNT 1,750,000.00
8,050,000.00
Total Sales 1,146,950,000.00

Less: COGS
Purchase 807,000,000.00
freight in 6,000,000.00
Purchase discount 2,000,000.00
Purchase return 12,000,000.00

14,000,000.00
Cost of good sold 799,000,000.00
Gross Profit 347,950,000.00
Operating Expense:
Selling Exp:
Freight out 5,800,000.00
advertising exp 14,000,000.00
administrative exp:
store rent exp 12,000,000.00
office rent exp 18,000,000.00
store supplies exp 1,000,000.00
office supplies exp 4,200,000.00
utilitites exp 5,280,000.00
store salaries exp 40,000,000.00
office salaries exp 21,000,000.00
total operating expense 121,280,000.00
operating income: 226,670,000.00
other:
Cash short and over 650,000.00
bank charge 4,960,000.00
bad debt expense 4,400,000.00
loss on sale of receivable 8,000,000.00
depreciation exp 20,000,000.00
interest revenue 2,145,000.00
income summory 7,100,000.00
recovery of impairment loss 2,000,000.00
38,010,000.00 11,245,000.00
total other 26,765,000.00
net income 199,905,000.00