Mabola Trading

Statement of Income
For month ended March 31, 2021

Net Sales 182250

Cost of Goods sold
Net Purchases 87740
Goods Available for Sale 25250 112990
Gross Profit 69260
Operating Expenses
Distribution Expenses 65420
General & Administrative 36000 101420
Income (Loss) from Operation -32160
Other Income 12000
Other Expenses 494 11506
Net Profit (Loss) -20654

Net Sales
Sales 186300
Sales Returns & Allowances 2500
Sales Discount 1550
182250
Net Purchases
Purchases 95400
Purchase discounts 3060
Purchase Returns & Allowances 4600
87740
Goods Available for Sale
Inventory, March 1 25250
Cost of goods purchased 87740
112990
Cost of goods sold
Inventory, March 1 25250
Net purchase 87740
Inventory, March 31 32450
80540
Operating Expenses Other Income
Distribution Expenses Rent Income 1200
Freight out 3960
Salaries expense - Store 28500 Other Expense
Store Supplies 2375 Interest Expense 494
Sales Commission 3585
Advertising Expense 3000
Rent Expense - Store 24000
Total 65420

General & Administrative

Rent Expense - Office 12000
Utilities Expense - Office 5840
Salaries Expense - Office 12450
Telecommunication - Offic 3575
Office Supplies 2135
Total 36000