WHS Cafeteria

Income Statement
For Period Ending December 31, 2017

SALES
Food sales $ 140,300.00
Beverages sales $ 20,201.00
Gross sales $160,501.00 (Add =D6+D7)
Sales Returns $ 47.00
Sales Discounts $ 550.00
$ 597.00 (Add Returns and Discounts)
Net Sales $ 161,098.00 (Gross sales-Returns and Discounts)

COST OF GOODS SOLD

Begging Inventory $ 32,100.00
Add: Purchases $ 65,212.00
Add: Transportation $ 4,036.00
Less: Purch Returns $ 243.00
Less: Ending Inven. $ 28,200.00
Net Cost of Goods Sold $68,869.00 (Add the first three cost,subtract the last three)
GROSS MARGIN $92,229.00 (Net Sales less the Net Cost of Good Solds)

OPERATING EXPENSES
Advertising Exp $ 273.00
Depreciation $ 3,664.00
Insurance $ 2,229.00
Interest $ 2,865.00
Rent $ 10,000.00
Repairs $ 684.00
Salaries $ 21,150.00
Supplies $ 1,695.00
Utilities $ 1,224.00
Total Operating Expenses $ 43,784.00 use=sum to add all epenses up

NET INCOME $48,445.00 (Gross Margin less Total Operating Expenses