Scribd Logo
Upload

Welcome to Scribd!

  • Fancy's Foods LLC: Pro Forma Income Statement January 2001 - December 2001

    Uploaded by

    Don Rayburn Pilan
    163 views1 page
    Fancy's Foods LLC generated $592,194 in net sales and $149,988 in gross income in 2001. Total expenses were $83,100, resulting in net income before taxes of $66,888. After paying $20,066 in income taxes, net income was $46,822. Key assumptions included sales increasing 10% from the previous year across four cities, and cost of goods sold including ingredients and packaging for canned products.

    Original Description:

    Original Title

    12F

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Fancy's Foods LLC generated $592,194 in net sales and $149,988 in gross income in 2001. Total expenses were $83,100, resulting in net income before taxes of $66,888. After paying $20,066 in income taxes, net income was $46,822. Key assumptions included sales increasing 10% from the previous year across four cities, and cost of goods sold including ingredients and packaging for canned products.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    163 views1 page

    Fancy's Foods LLC: Pro Forma Income Statement January 2001 - December 2001

    Uploaded by

    Don Rayburn Pilan
    Fancy's Foods LLC generated $592,194 in net sales and $149,988 in gross income in 2001. Total expenses were $83,100, resulting in net income before taxes of $66,888. After paying $20,066 in income taxes, net income was $46,822. Key assumptions included sales increasing 10% from the previous year across four cities, and cost of goods sold including ingredients and packaging for canned products.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Fancy's Foods LLC

    Pro Forma Income Statement


    January 2001 - December 2001

    Net Sales $592,194.00


    Less: Cost of Goods Sold $442,206.00
    Gross Income $149,988.00

    Operating Expenses
    Salary $20,000.00
    Labor $30,000.00
    Utilities $6,500.00
    Insurance $3,600.00
    Sales Promotion $25,000.00
    Delivery and Transportation $16,500.00
    Miscellaneous $1,500.00
    Total Expenses $83,100.00

    Net Income Before Taxes $66,888.00


    Less: Income Taxes $20,066.40
    Net Income After Taxes $46,821.60

    Assumptions:
    1 Net sales based on price of $2.29 per
    unit,
    29,040 units sold in Antlers 2,420 units per month
    43,560 units sold in Hugo 3,630 units per month
    132,000 units sold in Oklahoma City 11,000 units per month
    54,000 units sold in Tulsa 9,000 units per month for 6
    months

    Sales estimates based on 10%sales increase from previous year.

    2 Cost of goods sold includes ingredients, packaging materials, labels, and co-
    packing expenses for canned product.

    3 Salary will be drawn by the owners/managers in the third year.

    You might also like